The History of Money and its Role in the Modern World

By
Julian McCormack,
User

Julian joined Platinum in 2001 as an investment analyst, but then left in 2002 to travel the world.

Upon returning he spent eight years working in metals and.. More

28 Sep 2021

The global pandemic has forced us to adjust our lives in ways we never imagined or thought possible. Throughout it all, money has become more important than ever: at an individual level and at a broader public level, with governments collectively spending an unfathomable amount to protect their populations and rescue their economies.

We are now seeing the impact of all this ‘money printing’ in rising inflation, which begs the question of the role and value of money in society.
 
In this article, Investment Specialist Julian McCormack delves into the origins of money over many centuries. It’s a fascinating look at history and makes one realise just how the form and function of money has shifted over time – often driven by political and economic motivations of governments as well as central banks, notably their various interest rate policies and bond-buying activities.

Reflecting on the past provides a valuable perspective on current events. With inflation creeping up and extraordinarily large budget deficits that need to be funded at some point, we suspect that change is afoot.

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