an Entity in Data Space: 134.155.108.49:8890
Technically, money was no longer a new concept, it had been around for several centuries by then. Its' key benefit is that it provides an easy way to convert the value of one product to that of another. Before the development of money, payment for labor tended to be payment-in-kind. If you grew grapes, you were probably paid in grapes or similar. And the economy was a barter economy as a result. Wealth was therefore measured in things; such as houses, lands, herds, etc.
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| http://dbkwik.webdatacommons.org | 4 |