In reading the ‘Nature of Money’, I’m confused about the jump from the notion of a Wergeld to a system of accounting.
All evidence points to the historical origins of money as a means of calculating obligations and debts in pre-market tribal and clan society.
Why does taxation become so widespread when surplus in generated in early agricultural societies?
I struggle to intuit the ‘de-linking’ between the money of account and the means of payment. The abstraction of the money of account is hard to visualise.
Theres a tension too that at some point you’ve to accept that this is how societies seem to have evolved.
I think a point in favour of the institutional origin of money is the idea of bills of exchange. It seems that these proliferated due to the multiplicity of sovereigns in Europe. Bills of exchange don’t necessarily imply the creation of credit by banks as we know today.
Research
Going to try and create a notebook to:
- Demo performing analysis.
- Demo adding a unit process. Include in the Read me a brief description of these and how to run and write tests.