Superphysics
The Financial System and the Barter System
by Juan
November 20, 2024 1 minutes • 64 words
Table of contents
The Financial System
The dominance of money led to the development of:
- central banks as the wholesalers of money
- commercial banks as the retailers
These retailers now come in many forms as investment banks, development banks, thrift banks, rural banks, unibanks, finance cooperatives, etc.
The Barter System
The dominance of money led to the fall of the barter system through the European colonial system.
