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Money and Power
from Part II - Science and History
Published online by Cambridge University Press: 03 November 2022
The invention of money was one of the major factor that allowed governments, corporations, and individuals to consolidate power. This chapter reviews the history of money and its various forms. The globalized economy depends on the free flow of money, and trade is an enormous source of wealth and power. Trading economies have proven to be stronger and more flexible across history, and is the source of various power centers throughout history: the Mediterranean Middle East, the European West, modern China, etc. have all been made powerful through trade, whereas isolationists have found themselves at strong disadvantages. The pursuit of trading wealth has been the source of wars and social conflicts, as well as the spread of colonialism and chattel slavery. Disparities of power and wealth due to the economic power of the global economy continue to this day. However, globalization has also created enormous benefits for many populations around the world. Worldwide, literacy has increased and longer lifespans are the result of access to modern medicines and health care.
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