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What is money and how did it originate? These questions have puzzled scholars for centuries, and money remains a poorly understood economic category filled with paradoxes and errors. The convict colony of New South Wales, established in 1788 as a penal settlement, had no special monetary arrangements, lacking both a bank and a mint until 1817 and 1855 respectively. Unlike British colonies in North America, it also had no state paper issues. These characteristics make New South Wales a significant case study for understanding the emergence of money in a pre-industrial society, offering an alternative perspective in the ongoing debate about the nature and origins of money. Frank Decker's work is noted as one of the finest examples of economic history writing by a German author since the German Historical School. He presents a detailed account of how money first emerged in Convict New South Wales, showing how private instruments monetized the economy. This revised narrative, based on primary sources, also analyzes leading theories of money within the context of a remote colonial economy. This book is essential for anyone seeking to comprehend the essence and origins of money.
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The emergence of money in convict New South Wales, Frank Decker
- Taal
- Jaar van publicatie
- 2010
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- (Paperback)
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