Do we need money when we have computers?
The popular fallacy, repeated by economy textbooks, is that people invented money to replace burdensome barter (exchanging goods for other goods) with something simpler. This is not true, or not the whole story at least. The missing piece is debt. Proto-money At first, there were nice looking things that took some time to collect or process. Shells, metals, pretty stones. Some thought ‘anyone can go pick up some shells, and we all want pretty necklaces, knives and sculptures, but this is pretty time-consuming and I had better grow some food; let me grow some extra to feed these kids who collect the pretty shells’. ...