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One piece might signify a measure of grain, while another with a different shape might represent a farm animal or a jar of olive oil.

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Those little ceramic shapes might not seem to have much in common with today's $100 bill - or with the credit cards and online transactions that are rapidly taking the place of cash - but the roots of our modern methods of payment lie in those Sumerian tokens.

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Those little ceramic shapes might not seem to have much in common with today's $100 bill - or with the credit cards and online transactions that are rapidly taking the place of cash - but the roots of our modern methods of payment lie in those Sumerian tokens.

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Unlike modern money, ancient coins were what

economists call fullbodied or commodity money: Their value was fixed by the metal in them.

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Its purchasing power remains relatively stable because the government controls the supply.

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In contrast to commodity money, today's money has value essentially because a government says that it does

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Money's convenience made it easier for ancient merchants to develop large-scale trade networks, in which spices and grain could be bought and sold across distances of thousands of kilometers.

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It's a system with an important advantage, in that human judgment - rather than how much gold has been dug out of the ground - determines the amount of money in circulation.

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If a government decides to issue too much money, it can trigger an inflationary spiral that raises the price of goods and services.

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Parag Khanna, a financial policy expert, explains: "The real future is technology as money. That's what Bitcoin is about."

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But eventually these arose a new, universal currency: gold

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The result, explains financial author Kabir Sehgal, was an economic system in which 'you knew the value of what you had, and what you could buy with it.'

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Cowrie shells are smooth, shiny, egg-shaped seashells

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But as Lloyd Thomas explains in his book 'Money, Banking and Financial Markets', bankers eventually realized that many people simply used their notes rather than redeeming them for gold.

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Its purchasing power remains relatively stable because the government controls supply

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If a government decides to issue too much money, it can trigger an inflationary spiral that raises the price of goods and services

Reading Comprehension

What is the best alternative title for the article?

Reading Comprehension

The writer says that ancient Sumerian tokens...

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According to the writer, gatherings in London coffee houses in the 1600s...

Reading Comprehension

A $100 bill is an example of ........ money

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Who is most likely to agree that physical money will be replaced in the near future?