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Economics, Anthropology and the Origin of Money as a Bargaining Counter (Hardcover)
Loot Price: R3,858
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Economics, Anthropology and the Origin of Money as a Bargaining Counter (Hardcover)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 17 working days
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For many decades economists have disputed with economic
anthropologists over the origins of money. Economists claim that
money emerged from barter exchange; anthropologists claim that it
originated as a 'unit of account' in the temples and palaces of
ancient Mesopotamia. This book argues that money originated as a
bargaining counter in a system of money-bargaining, emerging almost
seamlessly from barter-bargaining. This is not the 'money' of
mainstream economic conception - a 'veil' cast over a system of
resource allocation defined in mathematical terms. Confidence in
the bargaining counter is sustained through 'support-bargaining,' a
process in which individuals seek the support of their associates
but seek at the same time to advance their own interests. A
comprehensive 'Introduction to Support-Bargaining and
Money-Bargaining' is provided by the work. The arrival of
coin-money is recognised by many as a crucial event in the history
of mankind, and it is argued here that the distinctive character of
support-bargaining in ancient Greek city states made possible the
introduction of coin-money. The dependence of coin-money on a
particular form of support-bargaining also suggests the reason why
coin-money was not introduced much earlier, given that the
technology for producing coins was available long before their
adoption. This book will be of great interest to researchers in the
history and origins of money, banking and economic theory more
broadly.
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