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> Does anyone have any knowledge about whether Gold use spread like other ideas or if there was convergent discovery all over the world? Commodity currency (us
by brmgb 6y ago
> Does anyone have any knowledge about whether Gold use spread like other ideas or if there was convergent discovery all over the world?
Commodity currency (using a common commodity as a currency) was convergent discovery. Using gold specifically is a fairly modern state of affairs and spread with global commerce.
Medieval Europe mostly used silver for a long time. China used bronze then copper and Japan didn't adopt a gold standard until it started trading with Europe.
For a time, Europe used both gold and silver but the value of silver somewhat crashed after large mines were discovered in South America. Still the idea of using a single metallic standard or two different metals was a subject of debate until the switch to purely fiat money.
- flave 6y agoI know that China moved to paper money extremely early. Like, classical period in Europe. They were able to do this because of a uniquely strong central state that was able to dictate terms to not just the peasantry but the aristocracy as well. I think silver tarnishes a lot more than gold but I'll need to go and check my chemistry homework for that one. Plus, yeah, silver mines. I'm now reaching back to a couple of books I read a long while ago, but Gold was especially important in Europe because no European state ever really managed to monopolise gold mining. If lots of nations are using Silver, but you can't access silver and its use enriched your rivals then you can switch off its use.