Economics, Anthropology and the Origin of Money as a Bargaining Counter

Economists and economic anthropologists have debated the origins of money for decades. This book argues that money originated as a bargaining counter in a system of money-bargaining, emerging almost seamlessly from barter-bargaining. It is based on the idea that confidence in the bargaining counter is sustained through 'support-bargaining, a process in which individuals seek the support of their associates while advancing their own interests. The introduction of coin-money is seen as a crucial event in the history of mankind, and the dependence of coin-money on a particular form of support-bargaining suggests why it was not introduced much earlier.

Format: Hardback
Length: 308 pages
Publication date: 29 December 2022
Publisher: Taylor & Francis Ltd

For many decades, economists and economic anthropologists have engaged in a heated debate over the origins of money. Economists assert that money emerged from the barter exchange, while anthropologists contend that it originated as a 'unit of account' in the temples and palaces of ancient Mesopotamia. In this book, the author presents a compelling argument that money originated as a bargaining counter within a system of money-bargaining, evolving almost seamlessly from barter-bargaining. It differs significantly from the conventional understanding of money as a veil cast over a system of resource allocation defined in mathematical terms.

The foundation of confidence in the bargaining counter is built upon support-bargaining, a dynamic process in which individuals seek the support of their associates while simultaneously advancing their own interests. This book offers a comprehensive introduction to support-bargaining and money-bargaining, providing valuable insights into these economic phenomena.

Many regard the introduction of coin-money as a pivotal moment in human history, and the author argues that the unique characteristics of support-bargaining in ancient Greek city-states played a significant role in facilitating its emergence. The dependence of coin-money on a specific form of support-bargaining also sheds light on why coin-money was not introduced earlier, considering that the technology for coin production existed long before its widespread adoption.

This book will appeal to researchers and scholars interested in the history, origins, and theoretical aspects of money, banking, and economic theory. It offers a fresh perspective on an age-old debate, challenging conventional assumptions and providing valuable insights into the complex dynamics of economic systems.

Weight: 750g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032322278