Economics

Money exists to solve a problem bartering can't

A farmer with wheat who wants shoes has to find a shoemaker who happens to want wheat — a 'double coincidence of wants' that barter economies rarely satisfy. Carl Menger argued money emerged spontaneously as traders converged on whichever good was easiest to resell, not from any government decree.

Carl Menger, On the Origin of Money — Economic Journal, 1892

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