Democracy and Currency

democracy-and-currency

The ancient Greeks are responsible for western democracy and western currency. The ancient Greeks were the first to invent and implement democracy stemming from the Greek term “dēmos” meaning “people” and “kratia” meaning “power”. When the ancient Greeks found what was then the worlds richest vein of silver, near a volcanic site, they exploited it to mine silver and mint coins which became traded not only locally but also between the Romans and eventually all of Europe. This idea then spread to the Americas when the Europeans arrived and colonized. The idea of silver being used as currency caught on because it was more easily found than gold and could be traded with ease because of its devalued monetary status. The conquistadors brought with them the ideology of democracy and currency which shaped the western world of the modern day

 

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