Comments on: Monetary History (3) : Medieval prosperity and the lack of usury https://blog.p2pfoundation.net/monetary-history-3-medieval-prosperity-and-the-lack-of-usury/2014/01/16 Researching, documenting and promoting peer to peer practices Mon, 20 Jan 2014 19:04:13 +0000 hourly 1 https://wordpress.org/?v=5.5.15 By: Sepp Hasslberger https://blog.p2pfoundation.net/monetary-history-3-medieval-prosperity-and-the-lack-of-usury/2014/01/16/comment-page-1#comment-621219 Mon, 20 Jan 2014 19:04:13 +0000 http://blog.p2pfoundation.net/?p=35359#comment-621219 One might add to this that while tally sticks were used in England at the time, there was no such instrument in the rest of Europe, yet also there, building and the arts flourished and people were well off.

What happened in the rest of Europe was that Monarchs and other rulers issued money (coin) but frequently recalled the old coins to be replaced by slightly devalued new ones. The result was that coin was generally spent to pay for improvements rather than kept around. The money was forced to circulate by a mechanism that is similar to demurrage.

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