Money What it is How it works: Second Edition

by William F. Hummel

For centuries, money was viewed as tokens with intrinsic value, like gold or silver coins. Paper currencies were often used as substitutes, but they were only accepted on the promise they could be converted on demand into "hard money."

The era of hard money ended in the mid-20th century. Today every major industrial nation creates its own currency in the form of intrinsically worthless tokens known as fiat money. Most other forms of money are...

• Format: Paperback
• Language: English
• ISBN: 0595424155
• ISBN13: 9780595424153
• Release Date: December 2006
• Publisher: iUniverse
• Length: 104 Pages
• Weight: 0.40 lbs.
• Dimensions: 0.3" x 6.0" x 9.0"