Carl Menger: On the Origin of Money

Posted on Sunday, March 29, 2009 at 12:22 am

carl-menger.jpgCarl Menger: [W]e can only come fully to understand the origin of money by learning to view the establishment of the social procedure, with which we are dealing, as the spontaneous outcome, the unpremeditated resultant, of particular, individual efforts of the members of a society, who have little by little worked their way to a discrimination of the different degrees of saleableness in commodities. See here.