Category: Money

Debt, money, sin

March 20, 2019 0

  The word for ‘debt’ in German – to owe money – is ‘Schuld’, and it also means ‘sin’ in this language. This dual meaning also existed in Akkadian in Babylon. In fact, it’s a Babylonian sovereign, Hammurabi, who in 1792 BC was the first to set up a veritable system of debt-renouncement that entailed…

By Michel Santi

What is money in 2015?

April 28, 2015 0

Money is only a means of payment. Moreover, any vehicle generally accepted as payment for goods and services is by definition comparable to money. This broader definition of money allows us to find several other means of payment in circulation and in use in our societies and economies. Indeed, bank notes and electronic transactions passing…

By Michel Santi