How Money Should Be an Expression of Culture

Money_expression_of_cultureIt is our thesis that money should be the expression of the culture of a people in their passionate search for justice. As such, money should change slowly like the customs and usages of the population. It should not be subject to political manipulation. In this way, money becomes a stable measure of value and a reliable store of wealth that facilitates the practice of justice.

D. J. Henstra describes this characteristic of money in the following way:

In the Middle Ages inertia in the system of money of account was even stronger than political forces. Only over long periods did the working of counterbalancing forces become noticeable. Every change of money of account system requires substantial efforts. The existing system, surviving from the past, tends to be preferred since it has the advantage of being ingrained in the customs of the people. Consequently, efforts towards change are only effective if they are incremental. Moreover, they can be no more than an addition to, an alteration of or an alternative to an existing rule of the system as it was hitherto. It changes in much the same way as a language changes. (D. J. Henstra, The Evolution of the Money Standard in Medieval Frisia: A Treatise on the History of the Systems of Money of Account in the Former Frisia (c.600-c.1500), Rijksuniversiteit, Groningen, 1999, p. 41.)