Of all the changes that are rocking the world and promising to leave it
a far less recognizable place, perhaps none is more fundamental than the
revolutionary transformation of the meaning and use of money. As Jack
Weatherford makes clear, we are already seeing the beginning of the
third revolution of money. The first began with the invention of coins
in Lydia nearly three thousand years ago and resulted in the original
system of open and free markets. The second revolution occurred during
the Italian Renaissance and eventually created the system of national
banks and the paper money used for daily commerce. Now, on the cusp of
the twenty-first century, we are undergoing another era in monetary
history - that of electronic, or virtual, money. The new money will be
responsible for radical changes in the international political economy
and the organization of commercial enterprises. Weatherford weaves
global stories and histories to give a comprehensive, engaging look at
the history of the world in terms of our dealings with money and barter,
wealth and power. From the markets of Timbuktu to the New York Stock
Exchange, from the tribal man's hut to the modern corporate boardroom,
The History of Money explores how money and the myriad forms of exchange
have affected humanity. All aspects of our lives - economic, political,
and personal - are influenced by money. And while we have progressed
into an extremely sophisticated international exchange, some basic facts
have remained the same: We still exchange money for services and goods;
debt is not a new concept; and money does, indeed, make the world go
round.
