AOM 1 Blog - JM

John Mazziotti

Mr. Roddy

GPHC

April 7th, 2020

Ascent of Money Blog 1

In the first part of ‘Ascent of Money’ the documentary informed the viewer about the rise of currency from ancient to modern society. Some interesting topics like loans, calculation, and the power of money, were discussed throughout the first part. Something that was discussed often was the effect on behavior that money has on individuals. The early stages of currency had a profound influence of power on individuals and governments, when Spain discovered the Incan presence in what we now call Bolivia, they discovered that they had a liking for valuable metals, and that there was an abundance of these valuables near their newly-discovered civilization. The Spanish Conquistadors behavior and objectives quickly changed with this society, and they put the Incas to work for the purpose of harvesting silver. I thought it was very interesting when the AOM part one showed that the Incans did however find an interest in gold and silver but in the sense of having a visual appeal and beauty but not value in the sense that we look at it today.
When talking about the concept of loans, money in the case of loans and interest can have an affect on behavior. Something interesting I found mentioned inside of the documentary was the difference between loans in the US and in Scotland. A more common but more risky and short-term loaning happens in Scotland more-so than the US, it’s called being a ‘Loan-Shark’. Loan sharking seemingly has no place in the US due to its abundance of large banks and low interest rates, but getting a larger and more stable loan in the UK is harder than getting one in the US. In conclusion, the information inside of this documentary or reading is extremely vital for understanding the uprising, history, and usage of currency in ancient and modern society.

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