Money and Central Banking

  • John D. Turner
Part of the Palgrave Studies in Economic History book series (PEHS)


This chapter asks why money and central banks exist. Its author makes a plea for a historical approach to monetary economics. Students need to understand the evolution of money and banking so they understand why our modern monetary systems are designed the way they are. The chapter concludes that money and central banking is not a purely technocratic issue; from their inception, sovereigns have been involved. Only through economic history can scholars understand the political economy of our mediums of exchange.

JEL Classification

E42 E58 N10 

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • John D. Turner
    • 1
  1. 1.Queen’s University BelfastBelfastUK

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