3min chapter

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EP 33: Money – The Unauthorised Biography (with Felix Martin)

Library of Mistakes

CHAPTER

Exploring the Bill of Trade: Private Money and Market Innovation

This chapter explores the Bill of Trade as an early form of private currency used in trade settlements, challenging the conventional view of money as a state-controlled entity. It highlights the role of merchants in developing autonomous monetary systems, exemplified by the ancient electrum coin from Lydia.

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