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That's the history of coinage, which came after debt. Debt is older though. It goes back 5,000 years--at least: https://en.wikipedia.org/wiki/Debt:_The_First_
by borjamoya 7y ago
That's the history of coinage, which came after debt.
Debt is older though. It goes back 5,000 years--at least:
https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years
- pdonis 7y ago> That's the history of coinage "Money of exchange" is, yes. And as I said, that is what economists are talking about when they talk about money replacing barter because it solves the double coincidence of wants problem. Money replacing barter has nothing to do with debt.