The "What is Money?" Show cover image

You’ve Been Lied to About the History of Money w/ Richard Werner (WiM576)

The "What is Money?" Show

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The Evolution of Money: From Babylon to Fiat

This chapter explores the misconceptions surrounding money creation and allocation, challenging the belief that central banks alone manage the money supply. It traces the historical origins of banking from ancient Babylon, illustrating how financial transactions date back to early credit systems and clay tablets. Through discussions on the evolution from precious metals to fiat currency, the chapter examines the intricate relationships between labor, taxation, and money in both ancient and modern contexts.

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