Stone Money of Yap as an Early form of Money in the Economic Sense

Gentle, P.F.

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Title	Stone Money of Yap as an Early form of Money in the Economic Sense
Authors	Gentle, P.F.
ORCID
Keywords	визначення грошей определение денег defining money мікронезія микронезия micronesia острів Яп остров Яп Yap island Каролінські острови Каролинские острова Caroline Islands кам'яні гроші каменные деньги stone money
Type	Article
Date of Issue	2021
URI	https://essuir.sumdu.edu.ua/handle/123456789/86051
Publisher	Sumy State University
License	Creative Commons Attribution 4.0 International License
Citation	Gentle, P. F. (2021). Stone Money of Yap as an Early form of Money in the Economic Sense. Financial Markets, Institutions and Risks, 5(2), 114-119. https://doi.org/10.21272/fmir.5(2).114-119.2021
Abstract	This article examines the special case of stone money, in Yap as a store of value, medium of exchange and unit of account, which are the three traits required for something to be considered money, in the economic sense. When confidence in a system of currency with coins is present, this more conventional form of money takes precedence. A respected economic form of currency with coins has all three elements of money: medium of exchange, store of value and unit of account. Though clearly, in a certain time period, stone money was the principle type of money. To a lesser extent, beads and shell were used as money.
Appears in Collections:	Financial Markets, Institutions and Risks (FMIR)