HST 150 Module #12

​Bartering to Bitcoin

Studying economics and currency is paramount in comprehending the past, especially the ancient and medieval epochs. From the earliest times, economies and currencies have exerted an immense influence on societies, molding their contours, propelling trade, and altering the geopolitical equilibrium. This exposition will scrutinize the benefits and drawbacks of ancient and medieval economic systems and currencies, drawing upon cogent historical instances and illustrating why it remains a matter of consequence even today. As we delve into the history of antiquity and the Middle Ages, we realize that economics and currency were not simply peripheral features but rather pivotal elements that defined the contours of society. The ancient Mesopotamian civilization, for instance, relied on agriculture, trade, and handicrafts as vital economic activities and employed a rudimentary barter system for transactions. Similarly, in medieval Europe, fiefdoms, and manors were the critical units of financial organization, with serfdom and feudalism underpinning the system. In both eras, currencies played a significant role, from the advent of coins in ancient Greece to the widespread use of paper money in medieval China.

​However, the study of economics and currency also reveals the darker underbelly of these systems. The Mesopotamian civilization, for instance, perpetuated inequalities and hierarchies, with the elites enjoying disproportionate power and privileges. Similarly, the feudal system in medieval Europe was marked by exploitation and oppression, with the serfs living in dire poverty and subjugation. Currencies, too, were not immune to abuse, as kings and emperors often resorted to debasement and inflation to finance their wars and lavish lifestyles. Studying ancient and medieval economies and currencies remains relevant, providing crucial insights into current economic systems and their inherent strengths and flaws. For instance, the principles of supply and demand, which underpinned the barter system in ancient times, continue to shape modern market economies. Similarly, the inequities and injustices that plagued feudal societies can be seen in the present-day disparities between the rich and poor. By studying the history of economics and currency, we can better understand how organizations function and how we can strive for a fairer and more just future.

In the olden days, folks traded stuff for other stuff. You know, like swapping goats for wheat or some honey for a new plow. But as time passed, precious metals like gold and silver became the bee's knees when buying and selling. The Greeks were hip to this game and started minting coins way back in the day - like, the 7th century BC, baby! These little nuggets of goodness were stamped with the face of some prominent shot ruler and guaranteed to be the real deal by the state. That way, merchants didn't have to stress about getting ripped off with counterfeit coins when they hit the marketplace. They could sling those shiny discs and make bank on whatever goods or services they needed. Easy peasy, lemon squeezy! Let me tell you about the Greeks and their coins. You see, they had no fancy currency system back in ancient times like we do today. But when they introduced standardized coins, things changed - big time. Suddenly, they could trade with other nations, like the Persians and Egyptians, from afar. And Athens? Oh boy, Athens became the kingpin of the economy. Why? Because they had the keys to the silver mines at Laurium, my friends. That meant they had mad wealth, and with that kind of money, they became a cultural and intellectual powerhouse. I'm talking about Socrates, Plato, and Aristotle - those dudes knew what was up. So, you see, coins weren't just little pieces of metal. They were the game-changer that made the Greeks a force to be reckoned with.

In the age of antiquity, currency was a double-edged sword; it could make or break an empire. The Roman Empire, for one, learned this lesson the hard way. They started tampering with their coins' purity, resulting in their currency's gradual depreciation. This kind of inflationary action shook people's confidence in the system, and as a result, the economy crumbled under the weight of its financial instability. The once-prosperous Roman Empire had to lean on tribute from its conquered colonies as its economic foundation, a far cry from the robust trading powerhouse it used to be. As we delve deeper into the belly of the medieval beast, we find that coins were still a hot commodity, but some radical new forms of currency were gaining traction. Over in Europe, bills of exchange were all the rage among merchants eager to make transactions without lugging around a trunk full of gold and silver. This ingenious invention made cross-border commerce a breeze, as savvy traders could now efficiently conduct business from the comfort of their shops.

In those times, the Italian city-states rose to great prominence, Venice and Florence among them. These bastions of trade and commerce held sway over the flow of goods and coins, their mighty merchant guilds calling the shots. Yet the city of Florence stood tallest, its economic power unmatched in the 14th and 15th centuries, for it was there that the gold florin reigned supreme, a currency of such prestige that it was accepted far and wide across the continent. The banking system of Florence, too, was a marvel to behold. Its vaults were stacked high with glittering coins, and the wise bankers who oversaw them knew every trick of the trade. Their cunning and skill kept the city prosperous, and their influence was felt far beyond its walls. In those days, currency was king, and the Italian city-states were rulers. But none could match the might and majesty of Florence, the jewel of the merchant world. The medieval epoch was not without its share of nefarious economic machinations. One such instance occurred in England during the 14th century when King Edward III engineered a devious currency manipulation scheme. By reducing the amount of gold in coins, he caused a devaluation of the currency, which had dire consequences. Inflation and economic upheaval shook society to its core, as people lost confidence in the money, and the cost of living soared beyond reason.

Studying economics and currency is crucial to grasp the progression of ancient and medieval societies. The advent of standardized money paved the way for more trade and economic growth while monkeying around with the cash and debasing it brought nothing but trouble. By taking a gander at historical examples, we can avoid repeating past blunders and aim for steady and flourishing economies today.

THE RUNDOWN
  • The study of economics and currency is essential in understanding the past, especially the ancient and medieval epochs, as these systems had a significant impact on societies.
  • The Mesopotamian civilization and medieval Europe were examples of ancient and medieval economies and currencies, respectively.
  • Currencies played a significant role in both eras, from the advent of coins in ancient Greece to the widespread use of paper money in medieval China.
  • However, these systems were not immune to abuse, as kings and emperors often resorted to debasement and inflation to finance their wars and lavish lifestyles.
  • Studying ancient and medieval economies and currencies remains relevant, providing crucial insights into current economic systems and their inherent strengths and flaws.
  • The principles of supply and demand, which underpinned the barter system in ancient times, continue to shape modern market economies.
  • In the medieval epoch, currency was a game-changer that made the Italian city-states, especially Florence, a force to be reckoned with.
  • Bills of exchange were gaining traction among merchants eager to make transactions without lugging around a trunk full of gold and silver.

QUESTIONS
  • Why is studying ancient and medieval economic systems and currencies important?
  • How did currencies evolve from barter systems to coins and paper money, and what impact did they have on ancient societies?
  • How did ancient and medieval economic systems perpetuate inequalities and hierarchies, and how do these issues still exist in modern economic systems?​
#12 Perception Is More Important Than Reality

Before you report me as some doublespeak Big Brother agent, look at the current world we live in. The Age of Information never promised to be useful information, let alone accurate information. Social media is riddled with half-truths, pretenses, manipulated numbers, and flat out lies. This is to be expected, mainly when we accept that human beings are all emotional beings. And emotions can subdue logic often quickly and effortlessly. If you want to believe an election was stolen, you will. But one does not have to go far in history to see events veiled in fabrication that swayed public opinion. There are almost no cases in which the United States has been to War that hasn't been more fiction than fact.  Whether you choose to believe in systemic racism or the presence of "weapons of mass destruction," history does not bother with these things.

In this mysterious world, we inhabit, the notion that perception reigns supreme over reality resonates deeply. The present epoch bombards us incessantly with many information streams, confounding our ability to differentiate truth from fiction. The so-called Age of Information, once lauded for its potential to enrich our understanding and wisdom, has instead brandished a dangerous two-edged blade that offers misleading half-truths, sham facades, distorted statistics, and brazen untruths. These deceptions proliferate with alarming frequency in social media, where logic and reason are often smothered by emotion.

History's got a funny way of foolin' us into believin' a bunch of hogwash. The good ol' US of A ain't no stranger to this sort of thing, especially when it comes to war. Take the Vietnam War, for instance. Like that Gulf of Tonkin incident, the whole thing was built on a flimsy foundation of lies. Supposedly, North Vietnamese forces attacked our Navy ships, but that was all a big lie. The government used it as an excuse to ramp up the war effort. And don't even get me started on the Iraq War. We went in there lookin' for "weapons of mass destruction," but it was all based on some bogus intelligence. These examples prove that what we think is the truth isn't always so. The way we see things shapes our opinions and decides our fate.

Perception can be a tricky thing, a double-edged sword, if you will. But, sometimes, it can be a catalyst for some much-needed change. Take, for instance, the civil rights movement of the 1960s. People saw the stark inequalities and injustices and wouldn't take it lying down. Nope. In droves, they took to the streets, demanding justice and equality for all. And you know what? They made a difference. They fought tooth and nail, and it paid off in the end. Or how about the #MeToo movement? This one hit the scene a bit more recently, but boy, did it ever make an impact. People started to see the rampant sexual harassment and assault that had been going on for far too long. And they said, "Enough is enough!" They banded together, shared their stories, and held those accountable who had been getting away with this kind of behavior for far too long. It wasn't easy, but it was necessary. And you know what? It's working. Of course, there's still work to be done, but we're moving in the right direction. And that's all thanks to perception, my friends.

Okay, let's break it down: history is like a time capsule that holds the secrets of our past. It's a treasure trove of insights that can help us decode human behavior and decision-making. By sifting through the annals of yesteryear, we can start to see how perception can twist reality and how those in power can bend it to their will. Take a look at the way historical events have played out. The winners write history books. Well, what if the winners could be better guys? What if they're just really good at manipulating public opinion? By examining the past through this lens, we can learn to be more discerning information consumers. We can separate the truth from the lies and make up our minds about what happened. So, why is all of this important? Because perception shapes our world. It determines how we see ourselves and how we see others. It can even influence the course of history. By studying the role of perception in the past, we can gain a deeper understanding of the present and make more informed decisions about the future.

Perception can make or break how we see things, which can have serious consequences. It can be used to bend the public's will and steer outcomes in a shady direction, but it can also be a catalyst for positive change, holding those in power accountable and driving social progress. So, what's the key to unlocking the potential of perception? Well, my friends, it's all about studying history. By delving into the past, we can understand how perception shapes reality and how we can use that knowledge to be more informed information consumers. We can't afford to be duped by propaganda and fake news, especially today. We need to be sharp, we need to be discerning, and we need to be proactive in building a society that's just and equitable for all.

So, if we can manipulate the outcomes of our future, can we predict what happens next?

THE RUNDOWN
  • In our world today, how we see things is more important than what's actually true.
  • Because of the Internet, there's a lot of fake or tricky information on social media.
  • Throughout history, some events were made up to change people's minds.
  • How we see things can help or hurt us, but it can also make things better.
  • If we learn about history, we can understand how our views affect what happens and make better choices.
  • How we see things affects everything around us, including how we see ourselves and others, and even what happens in the future.
  • To make a fair and equal society, we need to be careful and active when we look at information.
STATE OF THE WORLD
HIGHLIGHTS
​​​We've got some fine classroom lectures coming your way, all courtesy of the RPTM podcast. These lectures will take you on a wild ride through history, exploring everything from ancient civilizations and epic battles to scientific breakthroughs and artistic revolutions. The podcast will guide you through each lecture with its no-nonsense, straight-talking style, using various sources to give you the lowdown on each topic. You won't find any fancy-pants jargon or convoluted theories here, just plain and straightforward explanations anyone can understand. So sit back and prepare to soak up some knowledge. 

LECTURES
  • COMING SOON
READING
  • Bentley, Chapter 23: Revolutionary Changes in the Atlantic World, 1750-1850 CE
  • Bentley, Chapter 24: Land Empires in the Age of Imperialism, 1800-1870 CE

This class utilizes the following textbook:
Bentley, Jerry. Traditions & Encounter Volume 1 from Beginning to 1500, 7th ed.: McGraw Hill,  2021 .

Jerry H. Bentley was a historian and academic who specialized in world history, with a focus on cultural and economic exchange, comparative history, and the study of empires. He was a professor at the University of Hawaii and served as the President of the American Historical Association. Bentley wrote several books on world history and globalization, including "Old World Encounters" and he made significant contributions to the field. He passed away in 2014.
​Howard Zinn was a historian, writer, and political activist known for his critical analysis of American history. He is particularly well-known for his counter-narrative to traditional American history accounts and highlights marginalized groups' experiences and perspectives. Zinn's work is often associated with social history and is known for his Marxist and socialist views. Larry Schweikart is also a historian, but his work and perspective are often considered more conservative. Schweikart's work is often associated with military history, and he is known for his support of free-market economics and limited government. Overall, Zinn and Schweikart have different perspectives on various historical issues and events and may interpret historical events and phenomena differently. Occasionally, we will also look at Thaddeus Russell, a historian, author, and academic. Russell has written extensively on the history of social and cultural change, and his work focuses on how marginalized and oppressed groups have challenged and transformed mainstream culture. Russell is known for his unconventional and controversial ideas, and his work has been praised for its originality and provocative nature. 

My classes utilize both Howard Zinn's A People's History of the United States and Larry Schweikart's Patriot's History of the United States, mostly in excerpts posted to the modules. You can access the full text of People's History or Patriot's History by clicking on the links. ​
Picture
Zinn, A People's History of the United States
"... The forced service of seamen led to a riot against impressment in Boston in 1747. Then crowds turned against Thomas Hutchinson, a rich merchant and colonial official who had backed the governor in putting down the riot, and who also designed a currency plan for Massachusetts which seemed to discriminate against the poor. Hutchinson's house burned down, mysteriously, and a crowd gathered in the street, cursing Hutchinson and shouting, 'Let it burn!'

By the years of the Revolutionary crisis, the 1760s, the wealthy elite that controlled the British colonies on the American mainland had 150 years of experience, had learned certain things about how to rule. They had various fears, but also had developed tactics to deal with what they feared.

The Indians, they had found, were too unruly to keep as a labor force, and remained an obstacle to expansion. Black slaves were easier to control, and their profitability for southern plantations was bringing an enormous increase in the importation of slaves, who were becoming a majority in some colonies and constituted one-fifth of the entire colonial population. But the blacks were not totally submissive, and as their numbers grew, the prospect of slave rebellion grew..." 
Picture
Larry Schweikart, A Patriot's History of the United States
"... Despite lower rates, opposition arose over the new enforcement mechanisms, including the referral of all smuggling cases to admiralty courts that had judges instead of juries, which normally handled such cases. Any colonial smuggler knew that the outcome of such a trial was less often in his favor, and complaints arose that the likelihood of real prosecution and conviction was higher under the new law. A second law, the Currency Act of 1764, prohibited the colonies from issuing paper money. When combined with the taxes of the Sugar Act, colonists anticipated that the Currency Act would drain the already scarce metallic money (specie, or gold and silver coins) from America, rendering merchants helpless to counteract inflation that always followed higher taxes.

By 1764, then, colonists drew a direct correlation between paying taxes and governing, and between government intervention in the economy and inflation. A few early taxes had existed on land, but land ownership conferred voting status. Other than that, only a handful of other direct taxes were levied, especially in light of the small size and limited power of government. 'The more revenue governments had, the more mischief they could create,' was the prevailing colonial view. In sharp contrast to land taxes, Grenville’s new duties were in no way associated with rights, and all subjects—landowners or otherwise—now had to pay..."
Picture
Thaddeus Russell, A Renegade History of the United States​
"... Two days after taking office, Roosevelt, invoking a “national emergency,” took an unprecedented step toward autocratic power. For the first time in United States history, a president closed the nation’s banks. Then, on March 9, Congress transferred much of its power to the president and gave him sole authority over a large swath of the nation’s economy. The Trading with the Enemy Act of 1917 was amended to declare that during time of war “or during any other period of national emergency declared by the President, the President may, through any agency that he may designate, or otherwise, investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange, transfers of credit between or payments by banking institutions as defined by the President, and exporting, hoarding, melting, or earmarking of gold or silver coin or bullion or currency.” Congress effectively gave the president unchecked control over banks and financial transactions in general, and everything concerning gold in particular. More ominously, the new law allowed the president to alone decide when to acquire and exercise that power..."
What Does Professor Lancaster Think?
A familiar motif emerges in recounting the annals of American colonialism and early governance: the powerful few relentlessly seek to exert dominion over labor and economic systems by implementing repressive measures. Predictably, this has elicited formidable resistance from the oppressed masses. Indeed, from the 1747 uprising against impressment in Boston to the colonial opposition to the Currency and Sugar Acts in 1764, and the despicable slavery system in the southern colonies to the New Deal policies of President Roosevelt, the history of America is a tale of continual struggles for power and self-determination between the privileged elite and the marginalized masses. This treatise shall meticulously scrutinize the advantages and drawbacks of these clashes, utilizing particular instances in history replete with precise dates. Furthermore, it shall expound on why studying this history remains imperative even in our contemporary context.

Once upon a time, a rowdy bunch of colonials in Boston stood up to the hoity-toity elites who thought they could press-gang any ol' sailor into the navy. This "impressment" malarkey didn't sit well with the sailors and laborers, who kicked up a right fuss and caused quite the kerfuffle. The Brits tried to quash the revolt, but the colonists weren't having any of it. This plucky spirit of resistance carried on in 1764 when the colonists railed against the Currency and Sugar Acts. The Currency Act was a real stick in the mud since paper money was crucial to the colonial economy. And as for the Sugar Act? Let's say it left a sour taste in everyone's mouth. The colonists were fed up with these heavy-handed attempts to control their livelihoods, so they took to the streets in protest and boycotts. And thus, dear reader, the stage was set for the grand spectacle of the American Revolution.

In the deep south of the colonies, a sinister system of subjugation and control had taken hold - slavery. The wealthy and powerful plantation owners were addicted to the labor of their enslaved workforce and refused to relinquish their hold, even as the rest of the country began to take strides toward abolition. But the enslaved were not content to suffer in silence, oh no. They fought back with everything they had. One such warrior was Nat Turner, whose rebellion in 1831 resulted in the deaths of over 50 white oppressors. It was a brutal and violent conflict, but it sent a powerful message: that the enslaved would not be broken and would not be silenced.

The inherent conflict between those in power and those on the fringes persisted well into the 1900s. When the Great Depression came knocking, FDR answered the door with his New Deal plan, which aimed to right the ship by implementing government involvement in the economy, launching social welfare initiatives, and enacting labor reforms. Predictably, the ruling elite was none too pleased with these measures, viewing them as a direct threat to their established authority. They did their damnedest to undermine the New Deal and counteract labor reforms. But the common folk weren't about to take this lying down. Strikes and protests soon erupted, leading to the formation of labor unions and laws that aimed to safeguard workers' rights.

The twisted tale of American colonialism and the early government is one of the elites' constant thirst for power and control over the common folk. The sweat of the labor force was their sweet nectar, and they would stop at nothing to keep the economic system rigged in their favor. But the oppressed were not to be caged like animals forever. They rose, time and time again, resisting the tyranny of the elite. It was a turbulent struggle, with both the good and the bad. But it's a tale that we must keep alive to this day. The lessons of the past are not to be forgotten but instead studied with a keen eye. Through this understanding, we can avoid the pitfalls of the past and march toward a fair and just future for all. Let us remember our society's ongoing battle for power and freedom. It's a fight that must be fought with all our might. We must build a community that's inclusive and democratic, where every voice is heard, and every soul is valued.

THE RUNDOWN
  • American colonialism and early governance saw the powerful few seeking to exert dominion over labor and economic systems by implementing repressive measures.
  • This led to formidable resistance from the oppressed masses, as seen in uprisings against impressment, colonial opposition to the Currency and Sugar Acts, the despicable slavery system, and the New Deal policies of President Roosevelt.
  • The history of America is a tale of continual struggles for power and self-determination between the privileged elite and the marginalized masses.
  • The advantages and drawbacks of these clashes, utilizing particular instances in history replete with precise dates, must be scrutinized.
  • Studying this history remains imperative even in our contemporary context.
  • The oppressed fought back against impressment, the Currency and Sugar Acts, and slavery, with instances such as Nat Turner's rebellion and strikes and protests during the New Deal era.
  • The lessons of the past must be remembered and studied to avoid the pitfalls of the past and march toward a fair and just future for all.
  • Building an inclusive and democratic community where every voice is heard and every soul is valued is essential.

QUESTIONS​​
  • How have the struggles for power and self-determination between the elite and the marginalized masses shaped the course of American history?
  • What are some of the advantages and drawbacks of the clashes between the privileged elite and the marginalized masses, and how have these clashes influenced American society today?
  • Why is it important to study the history of American colonialism and early governance, and how can understanding this history help us to create a more just and equitable society?​
Picture
A WINDOW INTO ANCIENT ECONOMICS AT PHILISTINE ASHKELON. Credit: Balage Balogh/ArchaeologyIllustrated.com.
​WATCH
The Insane Wealth of the Roman Empire (2022) - 21 min
THE RUNDOWN
The Roman Empire was a juggernaut, a dominating force that carved out a vast territory and left its mark on history. It was a civilization ahead of its time, with advanced technology, government organization, production, and military might that set it apart from other societies of its era. And let's remember the standard of living enjoyed by Roman citizens - it was practically unheard of until modern times.

But as with all things from the past, the economy of the Roman Empire is shrouded in mystery and intrigue. Data on their economic system is scarce, and what historical evidence we do have is often biased or incomplete. Market transactions were recorded on perishable materials, so we had to rely on indirect sources like literature, government proclamations, archaeological data, and preserved Egyptian papyri to study the economy. And even then, we must be cautious about making any definitive conclusions based on these sources since written accounts from the period were often propaganda or exaggerated.

Despite these challenges, the field of ancient economic history has flourished, and we're slowly but surely piecing together a better understanding of the Roman economy. We know that income inequality was a significant issue in the early Roman Empire, with the vast majority of the population living just above subsistence levels. At the same time, the top 3% consumed the majority of excess income. According to the Gini Coefficient, which measures income equality, the early Roman Empire fell in the middle of the range of historic economies.

The middle class still had some clout in the Roman Empire. Their combined wealth was comparable to the elites, and non-elite markets primarily drove the economy. Financial services were available, and the empire had a well-maintained network of roads and a tax system that supplied public services. In Roman England, we see evidence of a vibrant economy, with urban centers, paved roads, bathhouses, and a mass manufacturing sector producing top-of-the-line pottery.

Rome may have been politically unstable by today's standards, but let's give credit where credit is due. The Roman Empire was light years ahead of its peers in its economy, and we can still learn a thing or two from their innovative systems and structures today.
KEY TERMS
  • Neolithic Economies
  • 3500 BCE - The emergence of trade in the ancient civilizations of Mesopotamia and the Indus Valley, which led to the development of early market economies.
  • 2600 BCE - The construction of the Great Pyramids of Egypt, which required vast amounts of resources and labor and may have contributed to the development of a centralized economy.
  • 776 BCE - The first recorded Olympic Games in ancient Greece, which encouraged trade and the exchange of ideas among the city-states.
  • 509 BCE - The establishment of the Roman Republic, which created a stable political and economic environment for trade and commerce to flourish.
  • 206 BCE - The unification of China under the Qin Dynasty, which led to the creation of a standardized currency and a more centralized economy.
  • 476 CE - Fall of the Western Roman Empire: The fall of the Western Roman Empire marked the end of a period of economic stability and prosperity in Europe. The collapse of the Roman Empire led to a decline in trade and commerce and disrupted the economic system of Europe.
  • 622 CE - The founding of Islam and the establishment of a network of trade routes across the Middle East, Africa, and Asia, which facilitated the exchange of goods and ideas across cultures.
  • 711 CE - Muslim conquest of Spain: The Muslim conquest of Spain led to the development of a sophisticated and advanced economy in the region. The Muslims introduced new crops and irrigation systems, which led to an increase in agricultural productivity.
  • 800 CE - The rise of feudalism in Europe, which decentralized economic power and led to the development of local trade networks.
  • 1096 CE - The beginning of the Crusades, which opened up new trade routes between Europe and the Middle East and brought new goods and ideas to Europe.
  • 1206 CE - The establishment of the Mongol Empire, which facilitated trade and communication across Asia and Europe and led to the spread of new technologies and ideas.
  • 1348 CE - The Black Death: The Black Death was a devastating pandemic that had a significant impact on the economic history of the medieval world. The pandemic led to a decline in population and disrupted the economic system of Europe.
  • 1453 CE - Fall of Constantinople: The fall of Constantinople marked the end of the Byzantine Empire and had a significant impact on the economic history of the medieval world. The loss of Constantinople disrupted trade routes and led to a decline in the economic power of Europe.
  • 1492 CE - Discovery of America: The discovery of America had a significant impact on the economic history of the medieval world. The discovery of new resources and markets led to an increase in trade and commerce and stimulated economic growth in Europe.
DISCLAIMER: Welcome scholars to the wild and wacky world of history class. This isn't your granddaddy's boring ol' lecture, baby. We will take a trip through time, which will be one wild ride. I know some of you are in a brick-and-mortar setting, while others are in the vast digital wasteland. But fear not; we're all in this together. Online students might miss out on some in-person interaction, but you can still join in on the fun. This little shindig aims to get you all engaged with the course material and understand how past societies have shaped the world we know today. We'll talk about revolutions, wars, and other crazy stuff. So get ready, kids, because it's going to be one heck of a trip. And for all, you online students out there, don't be shy. Please share your thoughts and ideas with the rest of us. The Professor will do his best to give everyone an equal opportunity to learn, so don't hold back. So, let's do this thing!

ACTIVITY: "Bartering in Ancient Times"
Objective: To help students understand the concept of bartering and how it was used in ancient times.

Procedure:
  • Begin the class by introducing the concept of bartering and how it was used in ancient times. Provide a brief history of bartering, including the advantages and disadvantages of this type of trade.
  • Divide the class into small groups (3-4 students per group) and distribute the bartering items to each group. Explain that they will be participating in a bartering activity and that they will need to negotiate with the other groups to trade for the items they want.
  • Instruct the students to take a few minutes to examine the items they have and decide what they want to trade for. Encourage them to think about the value of the items and how they might negotiate for a fair trade.
  • Allow the groups to begin trading with each other. As they negotiate, walk around the room and observe the students' interactions. Ask questions and provide guidance as needed.
  • After a set amount of time (15-20 minutes), bring the class back together and lead a discussion on the activity. Ask the students to share their experiences and any challenges they faced during the bartering process.
  • Finally, distribute the handout on bartering and its history in ancient times. Have the students read the handout and ask them to reflect on how their bartering activity relates to the history of bartering in ancient times.

ACTIVITY: The Feudal System Game
Objective:
To understand the basic principles of the feudal system and the role of different classes in the economy of medieval Europe.

Instructions:
  • Divide the class into four groups: lords, knights, peasants, and merchants.
  • Each group draws a card from the hat, which represents their economic status and resources. The cards should be pre-made with the following information:
  • Lords: Large landowners with many serfs and vassals.
  • Knights: Soldiers who serve the lords and receive land in return.
  • Peasants: Serfs who work the land and pay rent to the lords.
  • Merchants: Traders who buy and sell goods from different regions.
  • Each group then writes down their economic goals and objectives on the small pieces of paper or index cards.
  • The game begins with the lords drawing a card, which indicates a problem or challenge that they must overcome to maintain their wealth and power. They then have to work with the knights, peasants, and merchants to solve the problem and achieve their goals.
  • The game progresses with each group taking turns drawing a card and facing a challenge that they must overcome with the help of the other groups.
  • The game ends when all the challenges have been solved, and the groups have achieved their economic goals.
  • After the game, the class can debrief and discuss the following questions:
  1. What was the role of each group in the economy of medieval Europe?
  2. How did the feudal system impact the distribution of wealth and power?
  3. What were some of the challenges faced by each group, and how were they able to overcome them?
  4. What lessons can we learn from the feudal system about economic systems and their impact on society?

THE RUNDOWN
  • Economics and currency are crucial to understanding ancient and medieval societies
  • Mesopotamian and medieval Europe are examples of ancient and medieval economies and currencies, respectively
  • Currencies played a significant role in both eras, but were prone to abuse by rulers
  • Studying ancient and medieval economies provides insights into current economic systems
  • Supply and demand principles from ancient times shape modern market economies
  • Currency was a game-changer in the medieval epoch, especially in Italian city-states like Florence
  • Perception is crucial in the current world, and can be manipulated with misinformation and deception
  • Studying history can help us understand how perception shapes reality and make more informed decisions
  • Perception shapes our world and can influence the course of history
  • To build a just and equitable society, we need to be discerning and proactive in our consumption of information.
ASSIGNMENTS
  • Forum Discussion #13
  • ​QUIZ #4
​
​Remember all assignments, tests and quizzes must be submitted official via BLACKBOARD ​
Forum Discussion #13
Economics Explained is a popular YouTube channel that provides educational videos on various economic topics in an engaging and accessible manner. The channel covers a wide range of subjects, from macroeconomic concepts like GDP and inflation to more specific issues like the economics of climate change and the impact of automation on jobs. The videos are typically animated, and the host provides clear explanations with a touch of humor. Watch this video and answer the following question:
What can we learn from studying the ancient Egyptian economy and its central planning system? Can modern economies benefit from incorporating aspects of the Egyptian system, or are the differences in time and technology too great?

Need help? Remember the Discussion Board Rubric.

THE RUNDOWN
Listen up, my friends, because this video is about to take you on a trip through time to the land of the pharaohs, where ancient Egypt and its economy reign supreme. It's a land where the complexities of modern-day economics were non-existent, making it the perfect case study for an economy in its purest form. The video delves into the heart of the central economic problem of resource allocation to satisfy human demands, which the Egyptians attempted to tackle through a centrally planned economy. The backbone of this society was farm labor, with farms owned by the state and administered through temples that acted as centers of commerce, government, and religion. And let me tell you; these were no ordinary wages - workers were paid in grain, with a simple farm laborer earning around 200 kilos of the stuff a month.

But here's the thing, folks. Thanks to the Nile and consistent weather, farming was a breeze in ancient Egypt, leading to surplus food production and a more complex society. This society had a social hierarchy, including governors, priests, and artisans enjoying the fruits of their labor. The Egyptian calendar was divided into three distinct seasons, with the annual river floods playing a pivotal role in their agricultural success. These floods deposited rich soil onto the fields and freed up time for farmers to work on other projects. And let's talk about those projects, shall we? During the flood season, farmers were put to work on construction projects, such as temples and pyramids, under a system known as the corvée. You might think this was a form of slavery, but hold your horses, folks. The corvée system was used until the 19th century for public works projects in Egypt, so it wasn't relegated to ancient times. And despite what you might have heard, evidence suggests that the workers who constructed the pyramids were not all treated poorly. So, there you have it, folks - ancient Egypt and its economy, a fascinating journey through time.

​WORK CITED
Hey, welcome to the work cited section! Here's where you'll find all the heavy hitters that inspired the content you've just consumed. Some might think citations are as dull as unbuttered toast, but nothing gets my intellectual juices flowing like a good reference list. Don't get me wrong, just because we've cited a source; doesn't mean we're always going to see eye-to-eye. But that's the beauty of it - it's up to you to chew on the material and come to conclusions. Listen, we've gone to great lengths to ensure these citations are accurate, but let's face it, we're all human. So, give us a holler if you notice any mistakes or suggest more sources. We're always looking to up our game. Ultimately, it's all about pursuing knowledge and truth, my friends. ​​
​​
​
LEGAL MUMBO JUMBO
  1. (Disclaimer: This is not professional or legal advice. If it were, the article would be followed with an invoice. Do not expect to win any social media arguments by hyperlinking my articles. Chances are, we are both wrong).
  2. ​(Trigger Warning: This article or section, or pages it links to, contains antiquated language or disturbing images which may be triggering to some.)
  3. (Permission to reprint this blog post in whole or in part is granted, provided that the author (or authors) and www.ryanglancaster.com are appropriately cited.)
  4. This site is for educational purposes only.
  5. Fair Use: Copyright Disclaimer under section 107 of the Copyright Act of 1976, allowance is made for “fair use” for purposes such as criticism, comment, news reporting, teaching, scholarship, education, and research. Fair use is permitted by copyright statute that might otherwise be infringing.​
  6. Fair Use Definition: Fair use is a doctrine in United States copyright law that allows limited use of copyrighted material without requiring permission from the rights holders, such as commentary, criticism, news reporting, research, teaching, or scholarship. It provides for the legal, non-licensed citation or incorporation of copyrighted material in another author’s work under a four-factor balancing test.