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by fallingfrog
2620 days ago
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David Graeber’s book “debt: the first 5000 years” has some passages on this. I think they just bought everything on credit, and continued to give prices in denarius even though nobody had any. Then periodically they would settle debts in a circle, so to speak. They also had a system of debt sticks where they would snap a stick in half, each party getting one, then when the debt was settled the “stock” and the “foil” were matched together and discarded. It’s a fascinating system but basically the point of the book was that during large sections of human history coinage wasn’t the method people used to buy things, and right now we’re moving away from coinage again as most people use credit cards and so forth for purchases. |
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