ECON - De Andre Beadle Mr Lingerfelt Economics 1st Currency...

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De Andre’ Beadle Mr. Lingerfelt Economics 1 st 4/13/2010 Currency History Paper The history of currency can be traced back nine-thousand years BC. From the use of cattle, crops, a basic form of accounts on papayas, silver, gold, copper and manufactured paper. Various forms of currency have evolved throughout centuries. America and other societies have deterred far from the standard original form of currency —for the better. In the era of 9000-6000 BC domestication of cattle and cultivation of crops were used as currency. Subsequently both livestock, particularly cattle, and plant products such as grain, came to be used as money in many different societies at different periods. Cattle are probably the oldest of all forms of money, as domestication of animals tended to precede the cultivation of crops, and are still used for that purpose in parts of Africa to this very day. Exchange is a concise and candid way to describe a system known as bartering. This involved exchanging goods rather than paying for them. Bartering was invented in Ancient Egypt around the time of Moses. It meant that, for instance, a bag of potatoes might be swapped for a tin of peaches, or a candle may be swapped for a brown sack made out of potato sacking, or whatever it was they wore in those drab times. A legend is that Marco Polo swapped his owls for a ship, without which he couldn't have traveled around the world, in 987AD. Bartering is still alive and well today in the school playground—when you trade Pokémon cards for chocolate milk or whatever the trend is today—you are bartering. As society evolved so did our way of living Mesopotamians began to develop a
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This note was uploaded on 09/19/2010 for the course VARI 1001 taught by Professor Banks during the Spring '10 term at LSU.

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ECON - De Andre Beadle Mr Lingerfelt Economics 1st Currency...

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