Money biography

From Booklist

Does money really need to be explained?

Money biography

Apparently it does, as economist Martin challenges the conventional theory that money emerged from the barter system. Offering a broad historical perspective, Martin begins with the pre-money society of The Iliad and The Odyssey.

When the numeracy, literacy, and accounting concepts of ancient Mesopotamia met with the Greek concept of universal social value, the components of money took shape. He traces uncanny similarities in ancient and modern history of monetary maneuvers and crises and how citizens have created quasi currency—IOUs, checks, vouchers—in reaction to government stumbles in Ireland, Argentina, and Russia.

Martin details how the great merchant houses of Europe developed the banking system we currently know. Tapping philosophers and economists, including Plato, Locke, Marx, Bagehot, Keynes, and Greenspan, Martin clearly explains why, even though it seems arcane, it’s important to understand the theory behind money,