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The History of Money and its Role in the Modern World

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.


Disclaimer DISCLAIMER: The above information is commentary only (i.e. our general thoughts). It is not intended to be, nor should it be construed as, investment advice. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. Before making any investment decision you need to consider (with your financial adviser) your particular investment needs, objectives and circumstances.

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