Standardized Money

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There were many reasons for the invention of standardized money. First, nobody wanted to carry 30 pounds of barley to the trade city that could have been 100 miles away. Second, it was difficult to determine the true cost of different goods. For example, if somebody wanted to buy milk for his family, it would almost be impossible to figure out a fair exchange for grain. Finally, the barter system limited the people who would trade with each other. Not everybody would want to purchase milk or grain. In sum, there were too many complications and inefficiencies in a barter economy. People in ancient times developed the concept of money around the year 2500 B.C. Some historians argue that it may have been even earlier. The first form of

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