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Money in Asia examines two chronic problems that faced early modern monetary economies in East, South, and Southeast Asia: The inability to provide sufficient amounts of small currencies to facilitate local economic transactions and to control currency depreciation. The studies …
"The Big Problem of Small Change offers the first credible and analytically sound explanation of how a problem that dogged monetary authorities for hundreds of years was finally solved. Two leading economists, Thomas Sargent and François Velde, examine the evolution of Western E…