Summary of Jin Xu's Empire of Silver

Please note: This is a companion version & not the original book. Sample Book Insights: #1 Money is a man-made deity that affects not only the fate of individuals, but also the future of sovereign states. Money is a primitive drive and collective subconscious, and it has carried over into modern society. #2 The case of Yap Island demonstrates the essence of money is credit. The islanders used large stone discs called fei as a form of currency. If a transaction involved a fei too large to be conveniently moved, it was left in place, without so much as a mark to indicate the exchange. #3 The essence of money is credit. We must revise classical theories about the origins of money, which believe that money was created for the purpose of exchange. In fact, gold rarely circulated in the marketplace. #4 The traditional view among economists is that money originated for the exchange of goods. However, a great deal of anthropological evidence reveals money as a kind of gift.