How did cash start? virtually, Robinson Crusoe had no want for cash. He couldn't have eaten gold coins. Neither might Crusoe and Friday, possibly exchanging fish for lumber, want to hassle approximately cash. however while society expands past some fami- lies, the stage is already set for the emergence of cash. To give an explanation for the function of cash, we should move even further back, and ask: why do guys exchange in any respect? trade is the high basis of our monetary lifestyles. without exchanges, there would be no real econ- omy and, almost, no society. surely, a voluntary alternate takes place because each events count on to benefit. An trade is an settlement between A and B to trans- fer the products or offerings of one man for the goods and offerings of the opposite. obviously, each benefit because every values what he gets in change more than what he offers up. while Crusoe, say, exchanges some fish for lumber, he values the lumber he “buys” extra than the fish he “sells...
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