Journal Article

Lessons from the history of money

Abstract: This article looks at eight centuries of monetary history and asks: What happened and what have we learned? Money evolved from commodity-based to purely fiduciary, and in the trial-and-error process, governments learned some basic truths about price stability and the management of a sound currency.

Keywords: Money; Coinage;

Bibliographic Information

Provider: Federal Reserve Bank of Chicago

Part of Series: Economic Perspectives

Publication Date: 1998

Volume: 22

Issue: Q I