Book Review: The End of Money
Author: David Wolman Publisher: Da Capo Press – 228 pages Book Review by: Sonu Chandiram Money is a means of exchanging value that has been around not only for centuries of recorded history, but even before that. When cavemen hunted for animals as food to eat and survive, some of them likely had too much of the meat for themselves. Their fellow cavemen, who did not have any food, came up with some hard-to-find piece of stone or something to give in exchange for a piece of the meat. Everybody in the cave then accepted this form of exchange or barter for the sake of convenience. Over the centuries, pre-historic people began to ascribe value not only on pieces of smooth and shaped stone but on pieces bark, leaf or other items, then on some type of metal that was scarce and difficult to obtain from the ground. Over time, and through recorded history, the means of exchange became gold and silver. Paper currency followed due to easier handling, but it was first backed up with the gold and silver monarchs owned. Money today, as a form of exchange of value among people, continues to be represented in hundreds of colorful, printed rectangular pieces of paper (not backed up by gold) or on round or other shapes of metals with some value shown on them, in hundreds of countries...
Read More