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CONTRIBUTORS:
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JOURNAL:
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vol 7 1999 [CIHS] - ISBN 3-85093-023-8 International Commission for the History of Sal,
7(??)
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YEAR:
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2002
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PUB TYPE:
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Special Issue
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SUBJECT(S):
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"SALT and the EVOLUTION of MONEY" Internat'l Commission for the History of Salt
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DISCIPLINE:
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Anthropology/Archaeology
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HTTP:
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http://www.salt.org.il/frame_econ.html
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LANGUAGE:
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English
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PUB ID:
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103-380-049
(Last edited on
2002/07/12 05:25:36 GMT-6)
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SPONSOR(S):
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DESCRIPTION:
To define money, the most helpful formulation
is the one defined by Knapp, and accepted by
Keynes. Knapp made it clear that most transferable
goods could be used for barter and consequently used
as a 'means of payment': however such 'means of payment'
only became 'money' when chartered by a state
authority and accepted by its administration for,
and in lieu of tax.
This differs from Aristotle's concept. He thought
that authoritative marks and stamps confirming
correct weight and composition, converts a 'means
of payment' into money, thus associating the
intrinsic material usefulness with its purchasing
power as money.
The 'State Theory' suggested by Knapp on the
contrary, implies that the essential monetary
qualities are independent of its intrinsic values,
as long as it is suitable to physically carry the
marks of the charter.
These two concepts have in common the standardisation
of form, weight, chemical composition and colour.
This fact has obscured the understanding of money,
and still hinders the appreciation of the genesis
of money and its historical development.
http://www.salt.org.il/money.html
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STATISTICS
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