The Evolution of Currency Value

This chapter explores the transformation of currency value post-gold standard, emphasizing how collective beliefs and economic factors shape perceptions and behaviors. Through examples like the Big Mac Index and discussions of historical hyperinflation, the narrative highlights the complexities of inflation, deflation, and the psychological impacts of monetary policy failures. Additionally, it delves into the etymology and historical significance of terms related to currency, including the fascinating journey of cowrie shells as an early form of money.