‘Money as Accounting‘ From Ancient Mesopotamia to 2008 and Beyond
ISBN: 978 0 948229 47 3
This book tells the story of ‘money as accounting’ from Ancient Mesopotamia to post-2008 global economy. It is a novel story as its analysis is based on the idea that money is essentially accounting. This analysis shows that money has evolved through three transformations: single-entry, externalised, and double-entry bookkeeping. Faced with the question – On what money to base world economy after the gold standard? – the analysis gives a clear indication: The next step is an intellectual revolution, understanding that money is accounting and, vice versa, accounting is money.