Eli5: How did money come about?
In: 1
Money arose when human societies shifted from a hunter-gather economy to an agrarian one. It takes time to grow plant and animal products, but oftentimes farmers need to engage in trade before those products are ready. Money, in the form of a record of account, developed to allow farmers to make deposits of grain and receive a receipt in exchange that they could then use to trade for other goods.
Latest Answers