Social Sciences
8 years ago

Devaluation of currency leads to scarcity in North-Song Dynasty.

Journal of Hanshan Normal University
Devaluation and Government Storing:Reasons of Currency Scarce in the North-Song Dynasty
Yong Chen

Paper Summary

The shortage of money in the North-Song Dynasty was not just due to storing and destroying copper coins, but also because the value of the coins decreased. The government storing of coins also made them leave circulation faster, contributing to the scarcity of currency.

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