A Global History of Money

Akinobu Kuroda

Table of Contents

List of Figures
List of Tables
List of Abbreviations
Acknowledgements
Introduction
1. Peasants Use Money
2. The Four Quadrants of Exchange
3. Exchange and Institutional Setting
4. The Global History of Money Viewed from the Ground
5. Bad Money Does Not Drive Out Good Money: Literature
Part 1 Exchanges Generate Money Locally
Chapter 1. Peasants, Marketplace, and Money
1. Peasants Exchange with Peasants Anonymously
2. Marketplaces for One-Time Transactions
3. Natives Preferred Local Currencies
4. Ubiquitous Fractional Currencies and Petit Exchangers
5. Subsequent Transactions Not Through the Marketplace: Another Configuration between Peasants and Merchants
6. Honour Substitutes for Cash
7. Freedom or Certainty: Two Paths (not Stages) of Local Commercialization
Chapter 2. Stagnant Currencies and Stratified Markets
1. Exogenous Currencies Naturally Stagnate
2. Stratified Markets in Agricultural Societies
3. Unidirectional Streams of Small Currencies and Local Imitations
4. Informal Agreements Generate Endogenous Currencies
5. How Merchants Acted in Stratified Markets
6. Currency Circuits and Imaginary Money
Part 2 A Global History of Monetary Delocalization
Chapter 3. The Ignition of Monetary Delocalization: An Unexpected Remnant of the Mongolian Regime, c.1300
1. Independent Monetary Systems in Pre-13th Century Civilizations
2. The Eurasian Silver Century: Emergence and Collapse
3. The Mongolian Taxation System Depended on Commerce
4. Paper Monies Drove Chinese Silver Ingots out to the West
5. Copper Coins Driven East and South
6. Commensurability Prevailed across Eurasia
7. The Eurasian Age of Commerce: The Synchronised Emergence of Marketplaces
8. Sprouting of Credit-Oriented Systems in Europe: One Aftermath
9. Currency Circuits with ‘Old’ Coins Flourished across the China Sea: Another Aftermath
10. Linkage to the Second Silver Century
Chapter 4. The World Diversified and Stratified: Three Paths after the Global Silver March, c.1600
1. A Breakthrough with Large Silver Coins
2. A Silver Century Followed by a Copper Century
3. Empires Thrived with Local Currencies: Prosperity in a Currency-Oriented Economy
4. States Organised Debts Nationwide: Formation of a Credit-Oriented Economy
5. Local Paper Monies Reveal Differences among Institutions: A Comparison between England, China and Japan
6. Currencies, Marketplaces, and Early Industrialization: What Happened to Cement Currency Circuits?
7. A Third Path: Commercial Oligarchies
Chapter 5. Nationalised Money: The Backstage of the International Gold Standard Regime, c.1900
1. The Age of International Silver Dollars: An Alternative to the Territorial Currency System
2. The Riddle of the Maria Theresa Dollar
3. The Reality of the Maria Theresa Dollar’s Circulation
4. Currencies Working as Complementary Buffers: Currency Circuits Survived
5. Paper Monies Nationalised Peasant Economies
6. How Did Banknotes Reach Down to the Ground? The Case of Inter-War China
7. Seasonality and Temporality of Monetary Demand Still Mattered: Towards 1929
8. The Paper Money Standard in China in 1935: Unification at the Top and Variety on the Ground
Conclusion: Money as a Social Circuit
1. Global History of Monetary Delocalization
2. Modern ‘Common Sense’ Uncommon in History
3. Misuse of the Concept of Arbitrage: No Equilibrium Amidst Streams
4. Escaping the Teleology of Monetary Studies
5. Alternative Ideas about Money by Contemporaries
6. Institutions for Flexibility as well as for Certainty: The Market Cannot Integrate by Itself
Appendix

黒田明伸
A Global History of Money

Routledge, 214ページ, 2020年4月, ISBN: 978-0-3678-5923-7

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