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  • Essay / Analysis of Fergurson's The Rise of Money - 936

    The evolutionary history of humans has demonstrated the essence of money. Coins were one of the first currencies used in the economic development of Inca, Turkish, Greek, Roman, Chinese and Spanish societies. However, the influx of silver and gold coins did not bring wealth; this only increased the price of goods. Money was only as good as the trust people placed in it, rather than the material it was made of metal or paper. Furthermore, the House of Medici was an example of a bank that demonstrated the success of the lending policy when usury was an immoral belief in the Christian world. This made them the leading bankers of the Renaissance