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Economy - Fiat Money and Fate of Economies - Pakistan & Gulf Economist

By Pakistan & Gulf Economist

Release Date: 2011-03-27

Genre: Economics

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Byline: SHAMSUL GHANI The Incas that were to be vanquished by the Spanish conquistadors in early sixteenth century appreciated only aesthetic value - not economic value - of precious metals like gold and silver. To them, gold was 'sweat of the sun' and silver 'tears of the moon'. Like a communist society, the Inca empire thought of 'labor' as the unit of value. They could not believe in the greed and keenness European nations showed for gold and silver. When imprisoned by the Spanish conquistadors led by Francisco Pizarro, the Incan emperor Atahualpa tried to secure his release by offering gold that could fill the entire room he was held at, in addition to silver twice the quantity of gold.

Economy - Fiat Money and Fate of Economies - Pakistan & Gulf Economist

By Pakistan & Gulf Economist

Release Date: 2011-03-27

Genre: Economics

(0 ratings)
Read Download
Byline: SHAMSUL GHANI The Incas that were to be vanquished by the Spanish conquistadors in early sixteenth century appreciated only aesthetic value - not economic value - of precious metals like gold and silver. To them, gold was 'sweat of the sun' and silver 'tears of the moon'. Like a communist society, the Inca empire thought of 'labor' as the unit of value. They could not believe in the greed and keenness European nations showed for gold and silver. When imprisoned by the Spanish conquistadors led by Francisco Pizarro, the Incan emperor Atahualpa tried to secure his release by offering gold that could fill the entire room he was held at, in addition to silver twice the quantity of gold.

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