Hyperinflation and Trust in Ancient Rome
In &quot;<i>Debt</i>&quot; by John Graeber, I was astonished to learn that currency was invented more than 2000 years after money. It was a military logistics invention: soldiers were issued coins, and taxes collected in coins, so that to be able to pay taxes, the governed had to meet the material needs or other wants of soldiers.<p>The metal value of the coins only mattered for trade with foreigners.