Inventing Paper Money

Step back in time with Economics Explained Essentials in our latest video: "The Invention of Paper Money - The 7th Century Tang Dynasty." This enthralling narrative uncovers the story behind the genesis of paper money, which took place in the expansive heartlands of China during the sophisticated Tang Dynasty. Witness a transformative era when monetary economics was forever changed, as barter and precious metals gave way to an innovative, abstract form of currency. Our video unearths the reasons behind this shift, bringing into focus the intricacies of early fiscal policy, the practical needs of trade, and the societal dynamics at play. Using vivid illustrations, compelling narratives, and expert analysis, we bridge the gap between history and modern economics. Whether you're an economics enthusiast, a history buff, or simply intrigued by the evolution of our financial systems, this video offers a captivating journey into the roots of paper money. Join us and let the wisdom of the Tang Dynasty enrich your understanding of our economic present.

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[MasayaShida]

"or perhaps the lack of it!" barely 10 seconds in and already calling me poor dammit

[DaAsianJuan]

Don't have to remind me how poor I am EE :<

[KiyosakiSays]

"Money is not the goal. Money has no value. The value comes from the dreams money helps achieve.” – Robert Kiyosaki

[bengerm]

Whatever that low noise is in the back ground of the video is making me physically uncomfortable

[AngieFilaCCH]

This video makes it sound so great and needed. The first time i ever heard about how it was started, and why i looked it up in the first place, was more like this: goods were traded for goods or even services and that was working fine until some emperor printed a bunch of stuff on tree bark. And when some poor dude with his furs or whatever he had was told he was getting tree bark with a bunch of scribbles on it, he wasn't too happy. Until the emperors guards or whatever they were called had all their weapons pointing at him like yeah you're gonna trade

[radabadakada]

Hello, as a czechia citizen I would suggest to look on "czech privatization" economicly fascinating case study of replacing socialism to capitalism in 90" after the Soviet Union colapse.
Thank you for all your work!

[KageNoTenshi]

Well they did invent paper, and printing, so....

[reis]

Bruh! Where did you get your sources? The currency called Yuan was only introduced in 1889. The currency in Ancient China in post/pre Song dynasty were jiaozi, liang and tael

[billmoretz]

The trouble with electronic money it is easily traceable. Who wants businesses and governments knowing what you spend every little dime on?

[thli]

Amazing, but how did they prevent forgery? Punishment seems insufficient.

[Lirvan]

This went from a historical video and suddenly turned into a crypto/digital currency sales pitch at the end there.

[wsxgfhccr]

Why the hell do Caucasians always butcher the pronunciation of "Yuan"? What part of Yuan looks like Wan?

[john-lenin]

Sumer was doing that with clay tablets.

[jackcat]

😂, the man in the logo of the video was the Mongolian ruler who conquered China, and Mongol Empire killed 50% of the Chinese population.

And look at his Mongolian dress. 😅

[rosswhite-chinnery]

The last reason for me to have physical cash in my wallet on any regular basis disappeared over a decade ago when bar top EFTPOS terminals became ubiquitous in Australian pubs.

[ProgressiveMastermind]

Please not that drum sounds all along the video.
And please keep some little pauses between sentences.

Right now it us really tough to follow 🙈

[johnbergamini]

It took just 27 years for the first paper-based fiat currency to fail. Did anyone notice or care?

[Blaqjaqshellaq]

i'm all right, jack, keep your hands off my stack

[shtm]

2:59 So Kubilai, born in 1294, created the Yuan banknotes issued by the Bank of China, founded in 1912 😂.Perhaps you confused the 元 Yuan dynasty with the currency unit 圆, for which 元 is conventionally used.

[victorhs]

"Debt: The First 5, 000 Years " by anthropologist David Graeber published in 2011.