Swedish scientists reveal a new theory of the origin of money.

Swedish scientists have figured out how money originated

Researchers from Lund University have developed a new theory about the origin of money. They propose an alternative concept in which long-distance trade led to the creation of money. The scientists studied shell beads in North America and bronze ingots in Europe.

With the help of shell beads, tribes in North America, living in different regions and speaking different languages, were able to trade conveniently and develop a trading network. Bronze ingots in Europe became convenient means of trade between regions as they had the same size and weight. In both cases, money was initially used for foreign trade and then transitioned to domestic economies, facilitating the establishment of taxes and strengthening the power of elites, for example, in ancient California.