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2007-01-30 00:02:26 · 12 answers · asked by vasanthkurc 1 in Arts & Humanities History

12 answers

Money is an invention of the human mind. The creation of money is made possible because human beings have the capacity to accord value to symbols. Money is a symbol that represents the value of goods and services. The acceptance of any object as money – be it wampum, a gold coin, a paper currency note or a digital bank account balance – involves the consent of both the individual user and the community. Thus, all money has a psychological and a social as well as an economic dimension. As human consciousness has evolved, the nature and function of money has evolved too. While a history of money may trace the origin and usage of different forms of money at different times and in different parts of the world, an evolutionary perspective on money traces the social and psychological changes in human attitude and collective behavior that made possible this historical development.

I hope this solves your question,

Regards
Praveen Kumar

2007-01-30 00:06:23 · answer #1 · answered by P Praveen Kumar 5 · 0 0

QUOTE
"Money was invented by the Lydians, whose king's name, Croesus, survives to this day in the vernacular saying "rich as Croesus." They are also credited with inventing dice and the brothel, as if, the moment there is cash, Las Vegas appears, too, with its twin temptations for wasting cash. Lydia vanished from the map, but its neighbor, Greece, was -- according to some historians -- able to construct a profoundly impressive civilization and conquer so immense an empire only because of the Lydian monetary system it adopted. Although the word "economics" stems from a Greek term -- then related to the proper running of a large household ."
END QUOTE Refer website

2007-01-30 00:20:03 · answer #2 · answered by Alison M 2 · 0 0

The whole reason that money was invented was that bartering isn't a particularly efficient means of paying for goods and services. This should be clear to plenty of people, but in the last decade, over and over and over again, we've seen companies keep trying to bring back the concept of bartering, as if it were something new and wonderful.

2007-01-30 00:58:11 · answer #3 · answered by satishfreeman 5 · 0 0

The Sumerians are usually credited with the invention of Money

2007-01-30 00:17:41 · answer #4 · answered by hendrik k 2 · 0 0

Lydian's invented the money. Capital city Sardes ( now in turkey ).

2007-01-30 02:52:09 · answer #5 · answered by hanibal 5 · 0 0

No single person invented it. Barter system got developed into money as legal tender.

2007-01-30 00:26:47 · answer #6 · answered by Anonymous · 0 0

A number of commodity money systems were among the earliest forms of money to emerge. For example

1) the shekel referred to a specific volume of barley in ancient Babylon
2) iron sticks were used in Argos, before Pheidon's reforms.
cowries were used as a money in ancient China and throughout the South Pacific.
3) salt was used as a currency in pre-coinage societies in Europe.
3) ox-shaped ingots of copper seem to have functioned as a currency in the Bronze Age eastern Mediterranean.
4) state certified weights of gold and silver have functioned as currency since the reign of Croesus of Lydia, if not before.
5) rum-currency operated in the early European settlement of Sydney cove in Australia.
6) cash crops such as tobacco, rice, wheat, indigo, and maize were used as money in colonial Virginia.

2007-01-30 00:15:08 · answer #7 · answered by Arnoux 4 · 0 0

Kingdom of Lydia is the first kingdom ever used money in history.

2007-01-30 02:56:31 · answer #8 · answered by Tunc Mart 2 · 0 0

some one who love to take much with little,because in the old days they were trading thing by other thing.for example two eggs fore some Flore and etc.so i guess he didn't have any thing to trade with so here it is the Grata family of all our problems money.

2007-01-30 06:48:31 · answer #9 · answered by amy 1 · 0 0

dunno

first there started exchange of goods
leather coins
coins
and paper notes

in india
first paper notes were printed y state bank of india

2007-01-30 00:11:22 · answer #10 · answered by The Prince of Egypt 5 · 0 0

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