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Paula - How Money has Evolved
Transcript of Paula - How Money has Evolved
Teacher: Ms. Voss
Month: Feburary 2014
The needs of mankind have evolved over time.
9000 BC AND EARLIER
Before people used money, they traded. Trading is when you exchange one thing for another. For example, people traded livestock, services, plants, foods, resources, minerals, ect. People traded because they wanted new things. This gave them a variety of things and made people much healthier. Another thing that changed is that people had to travel a lot for different reasons. They mainly traveled to do sevices and trade goods. Trading was an important first step on the way to creating money.
In about 1200 BC people stopped trading and started using natural resources as money. The reason people stopped trading was that people found it too difficult to move big things such as a cow to their hometown. Some people had to travel very far, so it was harder for them. Another reason is that some people wanted to trade, but the other person disagreed. People carried different native natural resources. For example, people carried shells, feathers or stones from their countries that were not so easy to find. People agreed on that the natural resourse had value. In this way, it was easier to get what you wanted. Changing from trading to natural resources was helpful.
ABOUT 1200 BC
In 1000 BC, people changed from natural resources to metal coins. This changed because people disagreed about currency value. For example, two people wanted to buy something that costs 3 shells. One person had three large shells and the other three small shells. Which one had more value? This was the most common question of disagreement. These metal coins were made out of different metals. These metals were gold copper, silver and bronze. They were imprinted with an important face. the impact of theses metal coins was that every coin had the same value. Things changed because of metal coins.
In 800, people stared using paper currency. This happened because people started running out of metal. Another reason is that the coins were very heavy and uncomfortable. This type of currency was made by people printing on paper to stand for money. But, you could not make a bill yourself. The impact was that is was easier to carry a lot of money. It was also easier to make it. Paper currency was a great change to the whole world.
In the modern times, people are using invisible money. People started using invisible money because paper currency was very easy to steal. Invisible money is money you can't see. It is either online or electronic. Examples of invisible money are: ATM, credit cards, and online banking. The impact is that you can carry as much money as you want. Another reason is that if someone stole it, the person had to put your password on it. That was not easy. Also you could cancel your account. Invisible money was probable the best and most helpful change in the history of money.