Monetary System Transitions

Center on Economic Transition and Harmonization

Monetary System Transitions
by Aron Workman

Context

Monetary systems provide the means for transferring and conserving perceived value. This chronological review explores the hypotheses that monetary systems:

Evolve via punctuated equilibrium resulting in significant but incremental change;

Grow toward a larger user base with greater interdependence and daily transactions; and

Are increasingly abstract by dependence on prior abstract systems as temporary standards.

Edition 12-02