Christina Desan - How We Get The Institutional Structures Behind Money

Christina Desan gives a calm and civilized talk about the nature of money. It really looks back at the orgins of our current stories from the point of view of current stories. This leaves out "irrelevant" issues such as slavery, colonization, debt, etc. Still lots of interesting perspectives.

"Money" is worth something because, by law, it can be exchanged for goods and services for sale in that currency. That means the coin carries the value of what it can buy.

Private credit creation = "replication" of the basic unit of account decreed by the State.

She puts forward the idea that credit = debt but also the concept that all of this works in the "eye of the beholder."

She does note the rise in the power of creditors that parallels the rise of money itself.

Generally, the conversation ignores the history of debt.  Did medieval banks morph into modern banks? She claims that the Bank of England was the first actual bank, which was fundamental to the growth of retail banking.