Which country’s genius deserves the €200 note?
Europe prepares for a fight
Money can look like just about anything. In ancient China, bronze knives circulated as a means of payment; during the Depression, Californians used clamshells instead of cash; in 1970 Irish shoppers were forced, by a banking strike, to make do with ious written on toilet paper. As Hyman Minsky, an economist, put it: “Anyone can create money; the problem is getting it accepted.”
This article appeared in the Finance & economics section of the print edition under the headline “Making money”
Finance & economics September 2nd 2023
- How can American house prices still be rising?
- Which country’s genius deserves the €200 note?
- Europe’s economy looks to be heading for trouble
- Germany’s economic model is sputtering. So are its banks
- High bond yields imperil America’s financial stability
- China’s shadow-banking industry threatens its financial system
- How will politicians escape enormous public debts?
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