Preface to On the Origins of Money by Carl Menger

Abstract

In his classic essay, Carl Menger provides a conjectural history of the emergence of money. His account serves as the foundation for modern monetary economics. After briefly describing Menger’s argument and its consistency with his broader methodological approach, I consider modern representations and extensions of the Mengerian view on the emergence of money.

Keywords: Carl Menger, Medium of Exchange, Money, Spontaneous Order

JEL Classification: E40, E41, E42, B13, B53