Money economy
Money economy is the economic system with money as a general means of payment , which circulates in an economy as money .
General
In contrast to natural economy and barter , the act of exchange in a money economy is divided into two independent acts of purchase, money for goods and goods for money. One also speaks of the credit economy because money flows mainly in the form of credits , credit money .
history
The Roman Empire already had a pronounced monetary economy with systematic coinage and minting rights, which was also important for the Roman state budget .
In the second half of the 12th century to the middle of the 14th century, for the first time in post-ancient Europe, significant coin production and business with money - and no longer the exchange of goods for goods - began. Soon farmers were also producing for the regional market and bringing their goods to customers for money.
In the 14th century the change began to take hold, initially in the trade in the northern Italian cities. A debtor undertook in writing to repay a loan at another location in a different currency. This gave him the option of making “ cashless ” payments.
The exchange table ( Italian banca ) of the local money changer in Northern Italy gave the name to today's bank and banker . The changers were experts in recognizing the various local and foreign currencies , which existed in great abundance because of the sovereignty of coins that cities and princes held in Europe. In addition, they took deposits on a current account ( Italian conto corrente ) that private individuals or traders could open with them. Funds were transferred from account to account or to other changers on verbal instructions. So the “banker” could finally - as today - offer overdrafts and grant loans to merchants , craftsmen or the state .
Likewise, wealthy large farmers as well as merchants, farmers and craftsmen began to borrow money on their fields or houses.
An innovation of the 16./17. Century were public banks. With the discovery of new sea routes and the economic and military expansion of European countries to Asia, Africa and America, most parts of the world have been opened up for the exchange of goods in Europe since the end of the 15th century.
content
The money economy includes the financial economy with its entire financial system and its financial markets ( stock exchanges , foreign exchange , money and capital markets ). But the real economy with its goods markets is also part of the money economy if the customer pays for the goods or services in money. The dichotomization of the money and goods markets expresses that a money economy requires a distinction between the asset and goods market.
literature
- Hans-Georg Hofacker: Europe and the world around 1500: Prehistory or the beginning of modernity? Cornelsen Verlag , Berlin , DNB 966377818 .
- Claus Köhler : Money economy. Duncker and Humblot, Berlin 2nd edition 1977, ISBN 3-428-03901-7
Web links
- Wirtschaft Menschlich eV (Hrsg.): Growth pressures in the money economy
Individual evidence
- ↑ Verlag Dr. Th. Gabler GmbH (Ed.), Gabler Volkswirtschafts-Lexikon , 1990, p. 293 f.
- ↑ Duden Economy from A to Z: Basic knowledge for school and study, work and everyday life . 5th edition Mannheim: Bibliographisches Institut 2013. Licensed edition Bonn: Federal Agency for Civic Education 2013.
- ↑ Reinhard Wolters: Nummi Signati: Studies on the Roman coinage and monetary system , Beck, Munich 1999
- ↑ Hans-Georg Hofacker, Money and Money Economy , 2010, pp. 43, 44
- ^ Hajo Riese, Theory of Inflation , 1986, p. 42