The big problem of small change
Book • 2002
This book explores the centuries-long challenge faced by monetary authorities in providing small change, which often led to shortages and inflation.
Sargent and Velde explain how this issue was eventually resolved by transitioning to fiat money, laying the groundwork for modern monetary systems.
The authors present a comprehensive history and theory of small change, offering insights into the evolution of Western European economies.
Sargent and Velde explain how this issue was eventually resolved by transitioning to fiat money, laying the groundwork for modern monetary systems.
The authors present a comprehensive history and theory of small change, offering insights into the evolution of Western European economies.
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Mentioned by Niall Ferguson as a relevant book on the history of money and small change.
Why Bitcoin Now: Michael Casey and Niall Ferguson on How Bitcoin Fits in the History of Money - Ep.181
