Day: April 26, 2021

Money of Account

Money of Account: How Commerce was Conducted in the Middle Ages

How did merchants deal with the bewildering array of currencies that circulated in the Middle Ages? The Venetian grosso, Byzantine hyperpyron, French livre, Florentine florin—all circulated widely, yet all had different values and subdivisions. How did they make sense of it all? They used a concept called money of account. Money of account is a […]

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