95 000 Years Quotes & Sayings with Wallpapers & Posters - Quotes.Pub

Here you will find all the famous 000 Years quotes. There are more than 95 quotes in our 000 Years quotes collection. We have collected all of them and made stunning 000 Years wallpapers & posters out of those quotes. You can use this wallpapers & posters on mobile, desktop, print and frame them or share them on the various social media platforms. You can download the quotes images in various different sizes for free. In the below list you can find quotes by some of the famous authors like David Graeber

The most remarkable thing is that even in Adam Smith’s examples of fish and nails and tobacco being used as money, the same sort of thing was happening. In the years following the appearance of the Wealth of Nations, scholars checked into most of these examples and discovered that in just about every case, the people involved were quite familiar with the use of money, and in fact, were using money- as a unit of account. Take the example of dried cod, supposedly used as money in Newfoundland. As the British diplomat A. Mitchell pointed out almost a century ago, what Smith describes was really an illusion, created by a simple credit arrangement: In the early days of the Newfoundland fishing industry, there was no permanent European population, the fishers went there for the fishing season only, and those who were not fishers were traders who bought the dried fish and sold to the fishers their daily supplies. The latter sold their catch to the traders at the market price in pounds, shilling and pence, and obtained in return a credit on their books, which they paid for the supplies. Balances due by the traders were paid for by drafts on England or France. It was quite the same in the Scottish village. It’s not as if anyone actually walked into the local pub, plunked down a roofing nail, and asked for a pint of beer. Employers in Smith’s day often lacked coin to pay their workers; wages could be delayed by a year or more; in the meantime, it was considered acceptable for employees to carry off either some of their own products or leftover work materials, lumber, fabric, cord, and so on. The nails were de facto interest on what their employers owed to them. So they went to the pub, ran up a tab, and when occasion permitted, brought in a bag of nails to charge off against the debt. The law making tobacco legal tender in Virginia seems to have been an attempt by planters to oblige local merchants to accept their products as a credit around harvest time. In effect, the law forced all merchants in Virginia to become middlemen in tobacco business, whether they liked it or not; just as all West Indian merchants were obliged to become sugar dealers, since that’s what all their wealthier customers brought in to write off against their debt.The primary examples, then, were ones in which people were improvising credit systems, because actual money- gold and silver coinage- was in short supply.
For centuries now, explorers have been trying to find this fabled land of barter- none with success. Adam Smith set his story in aboriginal North America (others preferred Africa or the Pacific). In Smith’s time, at least it could be said that reliable information on Native American economic systems was available in Scottish libraries. But by mid-century, Lewis Henry Morgan’s descriptions of the six nations of the Iroquois, among others, were widely published- and they made clear that the main economic institution among the Iroquois nations were longhouses where most goods were stockpiled and then allocated by women’s councils, and no one ever traded arrowheads for slabs of meat. Economists simply ignored this information. Stanley Jevons, for example, who in 1871 wrote what has come to be considered the classic book on the origins of money, took his examples straight from Smith, with Indians swapping venison for elk and beaver hides, and made no use of actual descriptions of Indian life that made it clear that Smith had simply made this up. Around that same time, missionaries, adventurers, and colonial administrators were fanning out across the world, many bringing copies of Smith’s book, expecting to find the land of Barter. None ever did. They discovered and almost endless variety of economic systems. But to this day, no one has been able to locate a part of the world where the ordinary mode of economic transition between neighbours takes the form of “I’ll give you twenty chickens for that cow.