Description
Such a study of money has no obvious beginning from which one may proceed by logical steps to a clear-cut ending. Rather, it is circular in character. The study of most aspects of money requires a knowledge of all other aspects. Hence, the student of the subject is faced by the problem. that as he studies money he must make use of what he already knows, but he also needs to make use of those aspects which he has not yet investigated. To obviate this difficulty Part One deals in an introductory way with the whole field of money, endeavoring to furnish sufficient knowledge to assist in the study of each of the more specialized aspects which are dealt with in subsequent parts of this book. We are apt to assume that money has always been money as we know it. But, like other human institutions, money is an evolving institution, changing as economic life changes. To gain a proper perspective a brief survey is made of the evolution of money. If one is to grasp the nature of economic change it is also important to know what men think about their economic institutions. The opinion of one period may be the key to understanding the institutional changes of the next period. Hence, some consideration is given to the evolution of men’s opinions about money.
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