Tag Archives: Lydia

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,...

The latest iteration in the controversy over theory of money, money creation, and historical origins of money use.Social Democracy For The 21St Century: A Post Keynesian PerspectiveLarry White on the Origins of Coined Money: A CritiqueLord Keynes

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...