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There is something in that. You have to establish relative worth in order to assign a money value. That is, 1 pig is worth 10 chickens, or whatever. And 1 house
by Isamu 8y ago
There is something in that. You have to establish relative worth in order to assign a money value. That is, 1 pig is worth 10 chickens, or whatever. And 1 house is worth N pigs, and so on, assigning relative value to services also.
It makes sense that relative value is established first by barter, but it is not such a stretch to think that people could work the same out relatively quickly, once the money value of one common thing is established.
- digi_owl 8y agoMy personal take on where coins came from is weights used with balance scales (and certain metals would be favored there as they would not change their weight much while stored). Also, i think i once read that at some point Japan used a system based on a standardized rice bowl. So in earlier days it may well have been easier to set the price of a service (or anything that involved laborers) based on the number of meals needed.