Money

Here’s a fun fact about economics: The concept of “money” didn’t always mean physical coins or notes. In ancient civilisations, various items served as currency. For example, in the Yap Islands of Micronesia, massive stone discs called Rai stones were used as money. These stones could be as large as 12 feet in diameter and were so heavy that they were rarely moved. Instead, ownership was transferred by mutual agreement, demonstrating that the value of money is not in the physical object itself, but in the shared belief of its worth.

#Pacific #money #economics
Image attribution: Eric Guinther, GFDL