Chapter 13 proposes a monetary system to enable human survival on planet Earth.

The invention of money was one of the major factor that allowed governments, corporations, and individuals to consolidate power. This chapter reviews the history of money and its various forms. The globalized economy depends on the free flow of money, and trade is an enormous source of wealth and power. Trading economies have proven to be stronger and more flexible across history, and is the source of various power centers throughout history: the Mediterranean Middle East, the European West, modern China, etc. have all been made powerful through trade, whereas isolationists have found themselves at strong disadvantages. The pursuit of trading wealth has been the source of wars and social conflicts, as well as the spread of colonialism and chattel slavery. Disparities of power and wealth due to the economic power of the global economy continue to this day. However, globalization has also created enormous benefits for many populations around the world. Worldwide, literacy has increased and longer lifespans are the result of access to modern medicines and health care.

The first half of this chapter explores three ways in which modernist writers responded to the economics of their period. It explores modernism’s engagement with the economic horizons of writing and publication; modernism’s understanding of economic thought, ranging across of the ideas of figures such as John Maynard Keynes, Georg Simmel, Marcel Mauss, and Georges Bataille; and modernism’s responses to shifts in the money form itself, particularly changing attitudes towards the gold standard. The second half of the chapter explores the ways in which these issues were navigated in the work of modernist woman writers, including Jean Rhys, Zora Neale Hurston, Katherine Mansfield, Edith Wharton, and Virginia Woolf. In revealing and rewriting the relationship between metaphors of femininity and metaphors of money, these writers were able to explore and reimagine the relationship between their own sexual identities and consumer culture; the meanings of race, paternity, and inheritance; and the possibilities of exchange, translation, and a new international order.

This chapter examines the networks within which ancient Greek coins were produced and circulated from the perspective of formal network analysis, a methodological tool that is becoming increasingly widespread within ancient studies. In particular this chapter considers the problems of the object biographies as they pertain to networks, the agents involved in various networks, the process of network evolution and devolution, and network scale.

The introduction describes the aims and approach taken in this book. This is a study of money as social technology in the early modern world, written from the vantage point of the Dutch Republic. It aims to view early modern money 'from the inside' by studying everyday practices of makers and users of money, especially in a rural society in the east of the Dutch Republic. It analyses how public institutions (through minters, assayers, and government officials) and private individuals (farmers, merchants, and accountants) interacted in the creation and maintenance of Europe’s system of currencies. The specific focus of this book is on accounting practices and practices of material scrutiny because they offer a key to understanding the internal logic of early modern money.

Chapter 6 chronicles how money as social technology was reconfigured during the eighteenth and nineteenth centuries. It examines economic and philanthropic discourse as well as government practice between 1750 and 1850 to explain the motives for a quick succession of currency reforms in the nineteenth century, that profoundly transformed the material properties of public money in circulation. Cheap but precise mass production was especially important in order to issue low-denomination coins, used primarily for wage payments and retail, that would be fully conversant with the official monetary standard. In order to explain why the Dutch came to take a more hostile stance towards multiple currencies circulating in their territory, the chapter delineates how a 'national economy', forged through monetary exchange, became first an ideological and then a bureaucratic reality. While national currency did not do away with plurality of money in use, especially in the Dutch–Prussian borderland that is the main locale of this book, the strong discourse of technological superiority of uniform, centrally managed currency made it more difficult to think about plurality as something other than chaos.

Chapter 1 develops the notion of money as social technology which carries the analysis throughout the subsequent, more narrative chapters. The vivid case of a clandestine Catholic congregation in the east of the Netherlands, which used money to restore its social and material fabric, is placed alongside insights drawn from scholarship about Chinese, African, and Pacific history. The core idea is that technology is a relationship between people, objects, and meaning. Technology refers to a technique exercised within a social context which gives meaning to both the maker and the made object. In the present case this means that an object is turned into money when makers and users make it fungible, that is, when they imbue it with qualities that allow it to be reliably exchanged for something else. This technological approach brings into focus how money objects bring forth and change social structure; and, conversely, where social structures are techniques that create and transform money objects.

Chapter 4 explores how artisanal knowledge helped sustain early modern monetary order by making and unmaking the intrinsic value of precious metal. Intrinsic value was a conceptual tool and a material practice that allowed people to collapse many coins into one another and to forge units from multiples. Effectively, this meant establishing a network of corresponding values between specific batches of coins. The papers of a family of assayers from The Hague offer a fine-grained picture of the processes involved. Small differences in the precious metal content of coins aroused creeping suspicion, anger, and even physical violence because it was believed that the metal of a coin reflected the mettle of a person. This was particularly true for the masters of the mint, whose reputation was tied to the reputation of their coins. Making coins, and making them work, involved financial and legal expertise, but the artisanal knowledge of assayers and other metal-workers was key. Their practices such as sampling, using high-precision balances and powerful acids, note-taking, the rule of three, and algebraic calculation allowed people to hold on to the convention that metals had an intrinsic, quantifiable value in spite of fluctuations in the price of silver and gold, both across time and across the globe.

Chapter 3 shows how stewards of the princes of Orange-Nassau employed a specific money of account, the Artois pound, to manage land, livestock, and corvée labour across the family’s fifty domains, one of which was the lordship of Bredevoort. The Artois pound was not minted as coins, and nobody in Bredevoort used it to make or receive payments. As an accounting convention, it only existed as ink on slips of paper and in bound volumes and thus required constant scribal labour to be valuable. The stewards’ trained eyes and hands parsed the multiplicity of Bredevoort’s coins, animals, grains, and labour into homogeneous money objects that had currency across the entire accounting system, but not beyond. As the chapter shows, such a system using homogeneous money was also imagined by the mathematician and engineer Simon Stevin, and while he failed to install double-entry bookkeeping in the domains of the Orange-Nassau family, the stewards shared his ideals of surveillance and profit. A series of instructions provided the script for the audit rituals that were performed year after year and that left their traces on the pages of the accounts.

Farmers and other rural folk are often pictured as distant from financial centres and invoked as the last groups to monetise their transactions during a long process of modernisation. By treating grain as money and by comparing barns to banks, Chapter 2 raises important questions about this accepted picture and about the boundaries of financial history as a discipline. This chapter explores how a community in the east of the Dutch Republic sowed, tended to, harvested, stored, and kept track of grain. People sustained the material integrity of grain, but more importantly, they also sustained grain’s ability to act as currency in social interaction. Volume measures, owned privately but calibrated by local authorities, were key for the monetisation of grain. Furthermore, the chapter introduces the notion of ink money, normally associated with urban merchants and bankers who made and unmade money by formal accounting, in order to make sense of farmers’ finance in the Dutch countryside. Unlike trade among merchants, where both parties could produce ledgers when challenged, farmers keeping accounts often dealt with illiterate people. These account books provide indirect evidence that day-labourers and smallholders could record and transact monetary value by way of mental accounting. This money was more precarious than its written counterparts, but could be validated by oral testimonial in local courts.

Chapter 5 examines taxonomic practices of merchants and other users of money to better understand how early modern coins worked in circulation. After-death inventories offer insights into people’s domestic taxonomies, that is, into practices of classifying, labelling, and compartmentalising the money that people encountered as they went about their lives. Mercantile and institutional account books show how people linked different currencies. Assayers’ conclusions, derived from testing tiny specks of matter, were disseminated widely in broadsheets, coin tariffs, and conversion tables, but also in privately collated notes and letters. This information allowed early modern people to relate coins to one another and to convert them into monies of account which were much more homogeneous. This work was more than merely coping with chaos. People’s ability to match coins with transaction types and geography marked out circuits for specific currencies. The spaces in which currencies like the Dutch guilder could circulate freely thus emerged from the ground up. Users’ taxonomic practices were just as crucial for upholding monetary order as the knowledge work performed by assayers, minters, and government officials.

Chapter 5 recovers the peculiar significance of the Napoleonic Wars for the formation of nineteenth-century British orthodoxies concerning the government of Ireland’s rural interior. In the decade after 1801, Ireland's rising population and grain production became central to Irish, British and European debates over Irish government. The indispensability of Irish grain to the British war effort proved the glowing potential of a model of Union that rested on an agricultural Ireland supplying the needs of industrial Britain, and provided evidence for the resilience of the British Empire in the face of Napoleon's Continental System. Patriotic Irish objections to Ireland’s agrarian turn found an unlikely echo in the pages of an influential new journal of politics and political economy, The Edinburgh Review. Alongside the agrarian improver and travel writer Edward Wakefield, Robert Malthus advanced the radical claim that only a transformation of Irish land tenure and consumption habits, under the auspices of the Westminster parliament, could bring about the diffusion of British civilisation promised by the proponents of the Union.

Darius I overcame rebellions and seized the throne of Babylon, but cuneiform scholarship continued and developed; religious practices did not change, nor did the great buildings on the citadel. The zodiac scheme came into use. The Achaemenid king took Babylonian royal titles and promoted the worship of Marduk for local purposes. Xerxes broke the continuity. Following an uprising, a purge led to the ending of many archives. The province of Babylon was divided in two. Subsequent Achaemenid kings continued to treat Babylon with reverence. Alexander the Great defeated Darius III, entered Babylon, retained the Persian satrap, and moved treasure from Susa and Ecbatana to Babylon. He was recognized as a god. Lack of sons at his premature death precipitated a civil war from which Alexander’s commander Seleucus emerged to take the throne jointly with his son Antiochus. The derelict ziggurat was demolished, but temples and rituals, chronicles and astronomical diaries, continued as before. Aramaic was widely used, and fewer texts were inscribed in cuneiform. Interest in the fall of Assyria and of the Babylonian empire is apparent in Greek literature. Famous scholars include Berossus and named astronomers. Parthians invaded and eventually ended the dynasty.

Describes the continuing efforts to offset transient fluctuations in autonomous factors. Examines in particular the decision of the Treasury to keep virtually all of its cash balances at Federal Reserve Banks (in order to benefit indirectly from historically high short-term interest rates) and the consequences of that decision for open market operations.

Reviews the further development of defensive repo operations and the Committee’s continuing struggle with supporting Treasury offerings priced at market. After one particularly troubled offering, in May 1957, the Secretary of the Treasury threatened to undertake what would have been, for all intents and purposes, Treasury operations aimed at managing bank reserves. The threat passed but the memory lingered as a reminder that the Treasury was not without resources.

The early Bengal delta had a highly mobile population and dynamic economy that was open to both the immense expanse of the Indian Ocean and an enormous hinterland. For as far back as we can reconstruct, the delta was integrated into networks of long-distance trade, pilgrimage, political alliance, cultural exchange and travel. It served as a gateway to the wider world for people and goods from the landlocked Ganges plains in the west, from Tibet and Nepal in the north, and from the Brahmaputra valley and China in the east. Conversely, traders, Buddhist pilgrims, political emissaries and adventurers who wanted to visit these regions had to pass through Bengal. It was in the coastal waterways of Bangladesh that Southeast Asians, North Indians, Sri Lankans, Chinese, Arabs, Central Asians, Persians, Ethiopians and Tibetans met from very early times.