5 ms·
https://en.wikipedia.org/wiki/Gold_standard https://en.wikipedia.org/wiki/Gold_standard Origin "The gold specie standard arose from the widespread acceptance
by dear 11y ago
https://en.wikipedia.org/wiki/Gold_standard https://en.wikipedia.org/wiki/Gold_standard
Origin
"The gold specie standard arose from the widespread acceptance of gold as currency.[7] Various commodities have been used as money; typically, the one that loses the least value over time becomes the accepted form.[8] The use of gold as money began thousands of years ago in Asia Minor."
- dools 11y agoThe terminology is wrong in subtle bu important ways. Here's a great presentation on the origins of money and debt: http://m.youtube.com/watch?v=0zEbo8PIPSc http://m.youtube.com/watch?v=0zEbo8PIPSc and here is the analysis of nominalism vs. Metalism from Randall Wray who is one of the key proponents of modern monetary theory http://neweconomicperspectives.org/2011/08/mmp-blog-12-commodity-money-coins.html http://neweconomicperspectives.org/2011/08/mmp-blog-12-commo...