Money Before Banks explores the fascinating world of pre-banking economies, revealing how ancient societies managed trade and value exchange. It delves into early currency forms and barter systems, highlighting the ingenuity employed before modern financial institutions existed. The book emphasizes that these systems weren't just primitive precursors but sophisticated solutions tailored to their times. Discover how the challenges of barter, like the “double coincidence of wants,” were overcome through social structures.
The book progresses chronologically, starting with barter economies and moving through the development of commodity and representative currencies. Examples range from using salt and livestock as early currencies to the emergence of tally sticks and coinage. By examining archaeological findings and historical texts, the book provides a fresh perspective, demonstrating the creativity of ancient civilizations in devising financial solutions. This approach offers practical insights for understanding modern economic challenges, including the rise of cryptocurrencies.
