Currency

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[[Image:‎Loonie.jpg |thumb|right|A [[Canada|Canadian]] One Dollar coin (more commonly refered to as a Loonie) a prime example of Modern currency]]
 
[[Image:‎Loonie.jpg |thumb|right|A [[Canada|Canadian]] One Dollar coin (more commonly refered to as a Loonie) a prime example of Modern currency]]
'''Currency''' (also known as '''money''') refers to a standardized medium of exchange for trade. Currency evolved along with [[civilization]], starting from simple barter latter and using certain objects more often for trade, such as bolts of cloth of foodstuffs. In Eurasia this generally eventually settled around masses of certain rare metallic elements such as gold and silver by the Iron Age for reasons of convenience and the jewelery trade, which was helped considerably by the introduction of standardized systems of weights and measures. The degree to which currency was used greatly increased with urbanization as people became more interdependent, which lead to the rise of systems to manage finance, lending of currency at interest and paper currency for sake convienence (starting in [[China]]). In the modern world, most currencies are backed by the legal authority of the issuing government on the matter of transactions, with [[computer]] technology being increasingly used to make things more efficient.
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'''Currency''' (also known as '''money''') refers to a standardized medium of exchange for trade. Currency evolved along with [[civilization]], starting from simple barter latter and using certain objects more often for trade, such as bolts of cloth or foodstuffs. In Eurasia this generally eventually settled around masses of certain rare metallic elements such as gold and silver by the Iron Age for reasons of convenience and the jewelery trade, which was helped considerably by the introduction of standardized systems of weights and measures. The degree to which currency was used greatly increased with urbanization as people became more interdependent, which lead to the rise of systems to manage finance, lending of currency at interest and paper currency for sake convienence (starting in [[China]]). In the modern world, most currencies are backed by the legal authority of the issuing government on the matter of transactions, with [[computer]] technology being increasingly used to make things more efficient.
  
 
Currency usually concentrates in the possession of a fairly small percentage of the population of a society, giving said demographic considerable power and influence. If too much of the available currency moves into the hands of of too small a section of the population, social issues inevitably result.
 
Currency usually concentrates in the possession of a fairly small percentage of the population of a society, giving said demographic considerable power and influence. If too much of the available currency moves into the hands of of too small a section of the population, social issues inevitably result.

Revision as of 20:16, 3 November 2012

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