`money Mischief: Episodes In Monetary History` By Milton Freidman

p`Money Mischief : Episodes in Monetary business relationship` by Milton FriedmanIntroductionMoney is what money does . It has been a boiling issue passim the socio-political-economic saga of mankind . The pages of human history are daubed in bloodbath on issues and conflicts related to money . Money is the crown-jewel of the materialistic refinement of the world impacted by industrial and internet revolutions . The surname of the book is most appropriate as it reveals the latent foul qualities of money . Money builds as well as it breaks families , well-disposed relationships and understanding between the Nations etc . Therefore , it needs to be handled guardedly . It plays the role of the big brother in the socio-economic system of both country . A good chunk of the civil and cruel cases in any court of law are on money-related issues . Money matters pursue an individual from the cradle to the grave and from the womb to the tomb . Milton Friedman won the Nobel Prize for his contribution in the sweep of `money He discusses and tackles the money-issue from the roots . He begins with The Micronesian Yap islands coins that were 12 ft . The currencies of the modern-day era carry the guarantee but of the Government of the Nation . World monetary history is as complicated as that of human history , if not to a greater extent . Money has the special relationship with gold . The gold ore discoveries of the nineteenth century created deep impact for the better , on US and British monetary systemIn the book Money Mischief : Episodes in Monetary History Milton Friedman writes , From 1899 to 1919 the Caroline Islands , in Micronesia , were a German colony .

As their island yields no metal they have had haunt to stone stone on which labor is fetching and making has been expended , is as truly a representation of labor as the mined and minted coins of civilization (Friedman , 1994 ,, 3 ) As per the thinking of the Economists of the modern era , amongst the four factors of production , land , labor , heavy(p) and organization , labor is considered important . For , capital without labor is numb(p) . People of Caroline Islands knew the importance of labor in the eighteenth century or even earlier ! As for the storehouse of ownership of their currency their system and beliefs were equ anyy enlightened as that of the modern Central Banks . The author observes , A noteworthy bluster of this stone currency .is that it is not necessary for its owner to pull down it to possession . After concluding a bargain which involves the expense of a fei too large to be conveniently locomote , its new owner is quite content to accept the simple(a) acknowledgement of ownership and without so much as a mark to indicate the exchange , the coin remains still on the former owner s premises (Friedman ,, 4The life and achievements of Friedman fill like a fairy tale and the beliefs and ideas that he propounds , stick the final seal as for this aspect . They are all , however , attainable realities concerned with the economics and politics of...If you essential to get a full essay, order it on our website: Orderessay

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