Economics Anthropology and the Origin of Money as a Bargaining Counter

<p>For many decades economists have disputed with economic anthropologists over the origins of money. Economists claim that money emerged from barter exchange; anthropologists claim that it originated as a ‘unit of account’ in the temples and palaces of ancient Mesopotamia. This book argues that money originated as a bargaining counter in a system of money-bargaining emerging almost seamlessly from barter-bargaining. This is not the ‘money’ of mainstream economic conception – a ‘veil’ cast over a system of resource allocation defined in mathematical terms.</p><p>Confidence in the bargaining counter is sustained through ‘support-bargaining’ a process in which individuals seek the support of their associates but seek at the same time to advance their own interests. A comprehensive ‘Introduction to Support-Bargaining and Money-Bargaining’ is provided by the work. The arrival of coin-money is recognised by many as a crucial event in the history of mankind and it is argued here that the distinctive character of support-bargaining in ancient Greek city states<i> </i>made possible the introduction of coin-money. The dependence of coin-money on a particular form of support-bargaining also suggests the reason why coin-money was not introduced much earlier given that the technology for producing coins was available long before their adoption.</p><p>This book will be of great interest to researchers in the history and origins of money banking and economic theory more broadly.</p>