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History’s first known money – Sumerian barley money – is a good example. It appeared in Sumer around 3000 BC, at the same time and place, and under the same circumstances, in which writing appeared. Just as writing developed to answer the needs of intensifying administrative activities, so barley money developed to answer the needs of intensifying economic activities.
Sapiens
Yuval Noah Harari
people agreed to represent imaginary goods – goods that do not exist in the present – with a special kind of money they called ‘credit’. Credit enables us to build the present at the expense of the future. It’s founded on the assumption that our future resources are sure to be far more abundant than our present resources. A host of new and wonderful opportunities open up if we can build things in the present using future income.
Sapiens
Yuval Noah Harari
‘The person who attempts to fight the iron logic of nature thereby fights the principles he must thank for his life as a human being. To fight against nature is to bring about one’s own destruction.’3
Sapiens
Yuval Noah Harari
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