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<p>[QUOTE="+VGO.DVCKS, post: 4947121, member: 110504"]Sorry, I was being waaaaaay too elliptical. All it boiled down to, as a thought experiment, was that, in any given, hypothetical historical context in which circulation of money ('demand' for it) outpaced active mintage ('supply'), at which of those two points would you start, in evaluating the economic sophistication of that context (/society)? If the population was effectively ahead of the official (minting) infrastructure, would you call that society backward, on the basis of its infrastructure, or advanced, on the basis of its behavior, independently <i>of</i> the infrastructure? </p><p>There are examples all over the place, geographically and chronologically, of societies which were remarkably sophisticated, economically as well as otherwise, in the effective absence of money. The Vikings, for one, whose trade network extended across a good chunk of Eurasia, largely in the absence of a money economy in any fully realized sense of the term. </p><p>Conversely, in a society where money was scarce, but consistently in active use as such (rather than being all over the place, as along the Central Asian and Russian trade routes, but used merely as bullion), I might consider the operant population to be economically 'advanced,' above and beyond the level of its own political infrastructure --at least where minting was concerned. If you start just from those two criteria --circulation vs. mintage, especially if there isn't a seamless causal relation between the two-- which one takes precedence?</p><p>I hope that helped, any. Sounds like you know where you'd come down....[/QUOTE]</p><p><br /></p>
[QUOTE="+VGO.DVCKS, post: 4947121, member: 110504"]Sorry, I was being waaaaaay too elliptical. All it boiled down to, as a thought experiment, was that, in any given, hypothetical historical context in which circulation of money ('demand' for it) outpaced active mintage ('supply'), at which of those two points would you start, in evaluating the economic sophistication of that context (/society)? If the population was effectively ahead of the official (minting) infrastructure, would you call that society backward, on the basis of its infrastructure, or advanced, on the basis of its behavior, independently [I]of[/I] the infrastructure? There are examples all over the place, geographically and chronologically, of societies which were remarkably sophisticated, economically as well as otherwise, in the effective absence of money. The Vikings, for one, whose trade network extended across a good chunk of Eurasia, largely in the absence of a money economy in any fully realized sense of the term. Conversely, in a society where money was scarce, but consistently in active use as such (rather than being all over the place, as along the Central Asian and Russian trade routes, but used merely as bullion), I might consider the operant population to be economically 'advanced,' above and beyond the level of its own political infrastructure --at least where minting was concerned. If you start just from those two criteria --circulation vs. mintage, especially if there isn't a seamless causal relation between the two-- which one takes precedence? I hope that helped, any. Sounds like you know where you'd come down....[/QUOTE]
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