What is money: Ancient Money
Fierce debate about the nature and value of money, the likes of which we haven't seen in decades or arguably centuries, is occurring today. As governments embark on ever more Quantitative Easing, progressive economists call for more aggressive Modern Monetary Theory, whilst monetary conservatives, like the Austrian School of Economics, believe this will all end in tears. Crypto enthusiasts believe they have the answer and central banks are exploring digital currencies. These are certainly exciting, if uncertain, times.
In the first of a three part series, we explore the nature of money, leading up to a discussion of the viability of digital currencies and crypto assets.
In this first piece here, we start off discussing ancient money, where we look at how money started out, its purpose and its evolution in different types of societies. It is on our private Insights blog, which is only for lawyers (solicitors and barristers) who can register using their work e-mails.
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