What does value mean? When addressing this fundamental question I first thought about its relationship to money which got me thinking about when money was invented and who invented it. Internet to the rescue
What is money?
Money means different things to different people to you it may mean coins, notes or credit cards. To some people in developing nations it may mean beads, shells, acorns or human toes. In short, money is whatever we think has value.
So who invented it?
The first written records of the use of money date from 1200BC, in the area of land now known as Southern Algeria, although then it was covered with water. Inscriptions in stones record that ‘twelve shekels’ were paid into the bank account belonging to Algar Hammurabi, in return for ‘use of his daughter’. Twelve shekels in today’s money would buy you hundreds of prostitutes, all better looking than Hammurabi’s daughter, who was, by all accounts rather dull.
More generally, before money’ was introduced as a common currency, cost was determined by the effort / innovation we personally had to apply in return for other things that we...
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