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@ StackSats.IO
2025-02-27 10:21:56
Coins are a rather late development in the grand scheme of money, raw metals were traded by weight before that, and raw commodities before that.
If money was always on a ledger then it would not have expanded beyond individual civilisations - you don’t record on a clay tablet what the heathens who live 5 mountains away owe you and hope they return to make good.
Szabo has the most plausible account for the early history of money - moreso than both the Austrians and the Anthropologists.