We have discussed why and how money, a representation of perceived value, is created in the economy, but another important factor concerning money and the economy is how a country’s central bank (the central bank in the United States is…

But exactly how much money is out there, and what forms does it take? Economists and investors ask this question to determine whether there is inflation or deflation. Money is separated into three categories so that it is more discernible…

Today’s banking system in the West has its roots in the early to mid-Middle Ages. In this time period, three primitive banking professions emerged: Pawnbrokers — They functioned similarly to modern-day pawnshops, offering temporary loans in exchange for personal property.Money-changers…

Meanwhile, further west during this era, in 600 BCE, the invention of metal coinage occurred when Lydia’s King Alyattes minted what is believed to be the first official currency, the Lydian stater. The coins were made from electrum, a mixture…

Money doesn’t always have value whether it’s represented by a seashell, a metal coin, a piece of paper, or a string of code mined electronically by a computer. With global wealth estimated to be about $454.4 trillion at the end…