Adam Smith's Commercial Society: Origins Of Currency And Trade Value
Building LiveAPI, I learned about Adam Smith's commercial society where everyone trades surplus goods. Early currencies were cattle, salt, dried cod & tobacco. Metals emerged as a better alternative due to durability & divisibility.
I'm Shrijith Venkatrama, the founder of Hexmos. Presently, I am building LiveAPI, a super-convenient engineering productivity tool. LiveAPI processes your code repositories at scale and automatically produces beautiful API docs in minutes. As I build LiveAPI, I am also making an effort to learn about various economic matters. In this post, I explain the origins of currency or money, as presented by one of the foremost economic thinkers, Adam Smith. The Commercial Society Adam Smith introduces the idea of a commercial society. In this society, everyone must become a little bit of a tr...