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The history of money is the development over time of systems for the exchange, storage, and measurement of wealth.Money is a means of fulfilling these functions indirectly and in general rather than directly, as with barter.
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Instruments of monetary policy have included short-term interest rates and bank reserves through the monetary base. [1]With the creation of the Bank of England in 1694, which acquired the responsibility to print notes and back them with gold, the idea of monetary policy as independent of executive action began to be established. [2]
The economic history of the world encompasses the development of human economic activity throughout time. It has been estimated that throughout prehistory, the world average GDP per capita was about $158 per annum (inflation adjusted for 2013), and did not rise much until the Industrial Revolution .
Adams Synchronological Chart or Map of History, originally published as Chronological Chart of Ancient, Modern and Biblical History is a wallchart that graphically depicts a Biblical genealogy alongside a timeline composed of historic sources from the history of humanity from 4004 BC to modern times.
The quantity theory of money dominated macroeconomic theory until the 1930s. Two versions were particularly influential, one developed by Irving Fisher in works that included his 1911 The Purchasing Power of Money and another by Cambridge economists over the course of the early 20th century. [13]
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Dissertations in American economic history. New York: Arno Press, 1975. ISBN 0-405-07257-0. Ernst, Joseph Albert. Money and politics in America, 1755–1775: a study in the Currency act of 1764 and the political economy of revolution. Chapel Hill: University of North Carolina Press, 1973. ISBN 0-8078-1217-X.