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Tag Archives: Lydia

Reply to Selgin on the Origin of Electrum Coinage, Part 2

This is part 2 of my response to George Selgin’s post here:George Selgin, “‘Lord Keynes’ contra White on the Beginnings of Coinage,” Alt-M Ideas for an Alternative Monetary Future, August 30, 2017.Selgin refers to various new data from the past 20 years or so, and much of the new evidence was presented at a conference called “White Gold: Revealing the World’s Earliest Coins,” held from 25–26th June, 2012 (International Congress at Israel Museum, Jerusalem).Wartenberg (2017), for instance,...

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Larry White on the Origins of Coined Money: A Critique

The free banker Larry White has a recent post here on the origins of coined money:Larry White, “Why the ‘State Theory of Money’ doesn’t explain the Coinage of Precious Metals,” Alt-M Ideas for an Alternative Monetary Future, August 24, 2017.White is essentially talking about the origins of coined money in ancient Lydia and Greece.First of all, there are some points in White’s article that may be freely acknowledged as correct, as follows:(1) Chartalism does not have a universal theory of the...

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