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Product Description
In Gold We Trust? The Future of Money in an Age of Uncertainty (Kindle Single) eBook: Michael Green, Matthew Bishop: Kindle Store. Money began some 5,000 years ago when coins were introduced as units exchangeable for a handful of barley. From this point on, the story of money and its evolution gets quite interesting. Economist writers Michael Green and Matthew Bishop take readers on an exquisite journey through the history of money and its entanglements with philosophers, physicists, rulers, wars, criminals, the discovery of the Americas, and, later, economists. All forms of money, as it turns out, fail with alarming frequency. Fiat currencies--money that is created and backed by a government such as the US dollar or the Euro--fail when people lose trust in the institutions that backs them. Commodity currencies--such as silver coins and gold-backed notes--fail for many more reasons, such as debasement, supply issues, and politics (governments often outlaw commodity money and switch to fiat currency to ease recessions or to fund wars). So where does gold figure into the monetary system? According to the authors, an oversight by Sir Isaac Newton eventually led to gold-backed paper money--a highly problematic, short-lived experiment. So what's next in the evolution of money? In Gold We Trust? explores that frontier in its last chapter. Both highly engaging and well-crafted, this Kindle Single encompasses technology, economics, politics, history, and psychology as it explores the past and future of money. --Paul Diamond
Shipping Weight: 2 pounds
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