History 1: Money and the stone coin at the bottom of the sea
Planet Money Summer School
The Birth of Stone Money on Yap
This chapter narrates the intriguing origins of currency through the unique practice of stone money on Yap Island. It examines how these large, beautiful disk-shaped stones evolved from artistic objects to valuable mediums for significant transactions within the community. The discussion further delves into the abstract nature of money, exploring themes of value, ownership, and the societal consensus that underpins modern financial systems.
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