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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)

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