Currencies and Cultures: The Impact of Culture on Economic Policies and the Foundations of Money
Why cultures are different can be examined through the multifaceted lens of their currencies, their economic policies, and the very foundations of how money works. Anyone who has traveled abroad immediately senses the cultural differences, even before learning about the language, politics, or history of the people. The tourist is promptly faced with strangely priced goods and services, an unknown currency of dubious value, and an alien system of payment, trade, and exchange. An investigation into the origins and evolution of money explains much about the behavior of people and their culture.
The collection of coins and money often begins with an inquiry into the history of a currency and other payment media used to resolve debts and exchange goods. Coin collecting can lead to a compelling interest in the study of cultural differences as numismatists have come to appreciate the semantic connection between numisma (coinage) and nomos (customs) with nonos (laws). Those interested in economics and business would find, through the study of numismatics, a wealth of information—the equivalent of a life-long education—not only in the study of coins and currencies, but also about people and their history.
Culture is defined by the values, norms, and beliefs shared among its members and supported by its cultural institutions. A symbiotic relationship exists between a currency and its culture and society. The extent to which cultural institutions encourage and reinforce their economic foundations indicates the degree of a culture’s success or failure. This book offers insights into how cultural institutions can strengthen their citizens’ values and beliefs with that of their currency, and enhance the process of trade and exchange for the betterment and prosperity of its people.
The Latin phrase “cui bono?” translates into “to whose profit or advantage?” Currencies and Cultures reexamines and challenges our current understanding of economic history—and provides insights into human behavior by following the money.
Dr Noel Mark Noël worked as an economist and lobbyist for Philip’s Inc. in Eindhoven, the Netherlands. He received his Doctorate of Business Administration (DBA) from the University of Kentucky at Lexington in 1987. He holds an MS in Marketing and a BS in International Business from Northern Illinois University. He founded Brand-Metrics Inc., a sales and marketing research-based consulting company in Chicago, Illinois. He has published numerous scholarly articles, proceedings, and has presented papers at professional conferences. His scholarly interest in numismatics and the history of money has entertained and inspired several generations of business students, providing a welcome foundation in business and an education in the cultural values of capitalism. He is currently a Business Professor at the University of South Florida.
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