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History

The Rich History of Money

It is perhaps nearly impossible to imagine living in a society without money. The intricate role money plays in today's world may require deeper understanding. Does the role of money in the modern world shape us as a society, or are we able to control the affect money has on people, power, and decision-making in the modern world? The book "Coined: The Rich Life of Money And How Its History Has Shaped Us" by Kabir Sehgal attempts to uncover the relationship between money and humankind, and how and why it plays a pivotal role in our lives.

But what is money, and where did it come from, and why does it exist? Money has not always just concerned paper bills and coins of nickel and copper. The earliest known form of currency can be traced back to 9000-6000 B.C.E. when ancient civilizations bartered with cattle and other livestock (like sheep and camels). From there, currency has evolved through phases of being identified as shells, lumps of metal and barley, all the way to the coins, checks, credit cards and bills we're familiar with today. Get rich in information about the history of money, if money really can buy happiness, banking and more by checking out the videos in this collection of videos all about cash.

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Key Facts In This Video

  1. Beyond $75,000, American workers don't experience additional happiness with an increased salary. 00:21

  2. Giving money to others has been shown to increase happiness and overall emotional well-being. 01:30

  3. The ways in which money is spent also has a significant impact on a spender's happiness. 01:52

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Key Facts In This Video

  1. The word "buck" originates from a time when buckskins were used as currency. 00:39

  2. India's "worthless" zero rupee bank note serves as a tool of protest against bribery and corruption. 02:26

  3. The ridges on the sides of coins were originally intended to keep people from scraping bits of precious metal off the edges. 06:15

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Key Facts In This Video

  1. The word "bank" comes from the Old Italian word "banca," which means "table" or "bench". 00:46

  2. Banks get income from several sources, including saving deposits, the credit card business, buying and selling currencies, and cash management services. 01:55

  3. Credit unions provide the same financial services as banks, but focus on sharing value rather than maximizing profits. 03:54

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