Everything was free back then… | @Stable_Money Man v/s Money EP01

Summary

This video script takes viewers on a journey through the evolution of money, starting from the early days of barter exchange in Dada's clan to the complexities of modern banking. It explores the challenges faced by early societies in resource distribution and trade, the development of currency to solve these issues, and the transition to metal currency for its durability and divisibility. The script also discusses the importance of record-keeping in trade and the role of rulers in establishing trust in currency. The narrative is brought to life with engaging storytelling and a touch of humor, aiming to educate and entertain.

Takeaways

• 🌳 The story begins with 'Dada', a character from 50,000 BC, living in a clan with a barter economy and no concept of money.
• 🔨 Dada's clan faced the challenge of survival, needing to create tools, hunt, and build a community to share resources and support each other.
• 💊 Early Anadi Andy's character highlights the lack of medical knowledge, with threats like cancer and the importance of fulfilling basic needs for survival.
• 🤝 The 'Gifting Economy' is introduced as a system where resources are shared without the concept of buying or selling, relying on community cooperation.
• 🎁 The idea of 'specialisation' is presented as a solution to laziness and corruption within the community, where individuals focus on one task to become more efficient.
• 🔄 The 'Barter Exchange' is described as the earliest form of trade, where resources are directly exchanged based on perceived value.
• 📝 The importance of bookkeeping in the barter system is emphasized, as it helps to track transactions and prevent disputes over trades.
• 🏺 The transition from the barter system to using commodities like barley as currency is discussed, as a way to solve the problems of the barter system.
• 📉 The drawbacks of using perishable and bulky commodities as currency are highlighted, leading to the adoption of metals due to their durability and divisibility.
• 🏦 The script mentions the evolution of banking and financial products, such as Fixed Deposits (FDs), as a modern solution to the storage and preservation of wealth.
• 🎬 The video is sponsored by Stable Money, an app that allows users to compare and book FDs from various banks, emphasizing the convenience and high returns of these financial products.

Q & A

What is the main theme of the video script?

The main theme of the video script is the evolution of money, starting from the early days of human civilization and the challenges faced in the gifting economy, through the development of barter systems, and leading up to the use of metals as currency.

Who is 'Dada' in the script?

In the script, 'Dada' is a character representing an early human from 50,000 BC, who is part of a small clan and is used as a narrative device to explain the early economic systems and the challenges of survival without money.

What is the 'Gifting Economy' mentioned in the script?

The 'Gifting Economy' refers to a system where members of a community work not just for themselves but for the entire group, sharing resources and supporting each other, without the concept of money or personal gain.

Why did the early clans face challenges in the gifting economy?

The early clans faced challenges such as freeloading, where some members did not contribute to the community, and corruption, where some members started hoarding resources for themselves instead of sharing with the group.

What is the 'Barter Exchange' and how did it relate to the concept of money?

The 'Barter Exchange' is the earliest form of trade where goods or services are directly exchanged for other goods or services without the use of money. It led to the concept of money as people began to exchange valuable resources like flintstones for seashells, marking the beginning of a system of value exchange.

What is the problem of 'Double Coincidence of Wants' in the barter system?

The 'Double Coincidence of Wants' is a problem in the barter system where two parties must each have what the other wants in order for a trade to occur. This can limit the efficiency of trade as it requires a matching of desires and availability of goods.

What were the issues with using barley as a form of currency in Mesopotamia?

While barley was widely accepted and had intrinsic value, it faced issues such as divisibility, as it was difficult to measure small quantities for salaries or smaller trades, and it was perishable, meaning it could spoil or be eaten by pests like rats.

How did the use of metals as currency solve some of the problems of the barter system?

The use of metals like gold and silver as currency solved problems such as indivisibility, as they could be divided into smaller pieces, and perishability, as metals do not spoil or get eaten by pests. Metals were also durable, portable, and had a collective agreement on their value.

What is the role of the 'Official Economic Advisor', 'Booti Baba', in the script?

In the script, 'Booti Baba' is a character who advises Dada and the clan on economic matters, such as the introduction of specialization and the barter system, to tackle issues like freeloading and corruption within the community.

What is the significance of the 'Stable Money app' mentioned in the script?

The 'Stable Money app' is a sponsor of the video series and is mentioned as a modern tool for managing fixed deposits (FDs) across various banks, allowing users to compare rates and book FDs with higher returns instantly, which is a contrast to the ancient economic systems discussed in the script.

Outlines

00:00

🌳 Early Human Survival and the Gifting Economy

This paragraph takes us back to 50,000 BC, introducing 'Dada,' a 281 times great grandfather, who lived in a small clan surrounded by dense forests and beaches. The clan faced immense survival challenges, necessitating the creation of tools, hunting, fire lighting, and building defenses. The community bonded together, sharing resources and supporting each other, which was crucial for their survival. The script humorously introduces Early Anadi Andy, emphasizing the lack of a cure for cancer and the harsh realities of life without modern conveniences. The paragraph explores the concept of a 'Gifting Economy' where money didn't exist, and people worked for the benefit of the group, sharing resources communally. It also references the movie 'The Village' by M. Night Shyamalan as an example of a community without money, and hints at the challenges and evolution of this economic system.

05:00

🔨 The Emergence of Barter Exchange and Specialization

The second paragraph delves into the challenges faced within the gifting economy, such as laziness and corruption, and how Dada sought advice from 'Booti Baba,' the group's economic advisor. The concept of specialization is introduced as a solution to these issues, with each person focusing on one task to improve efficiency and quality. This led to the creation of surplus products and the barter system, where people exchanged goods and services. The paragraph also touches on the problems of the barter system, such as the lack of a centralized record-keeping method, which was addressed through social validation and various primitive accounting methods like notches on bones or pebbles in bags. The development of agriculture around 10,000 BC is also highlighted as a significant shift that allowed for more permanent settlements and the growth of civilizations.

10:02

🏛 The Advent of Civilizations and Complex Trade Structures

Paragraph three discusses the rise of civilizations such as Mesopotamia, Egypt, and India, each with their unique contributions to trade and culture. It details the development of writing systems like cuneiform and papyrus, and the creation of standardized bricks and cotton textiles. The paragraph highlights the commonalities among these civilizations, including the trade of weapons, metal-crafted items, and dyes. It also addresses the limitations of the barter system, such as the 'double coincidence of wants' and the complexity of managing exchange rates for numerous goods. The need for a more efficient system of trade is emphasized, setting the stage for the discussion of currency in the next paragraph.

15:05

📦 The Transition to Currency and the Problems of Barley as Currency

In this paragraph, the script explores the shift from the barter system to the use of currency, with barley being chosen as a form of currency in Mesopotamia due to its wide acceptance and intrinsic value. It explains the creation of standardized units of measurement for barley to facilitate trade and the use of silver shekels for larger transactions. The paragraph also discusses the challenges of using a physical good as currency, such as divisibility, storage, and spoilage. The introduction of metal as a potential currency is teased, setting up the discussion for the next episode, which will address the problems and evolution of metal currencies.

20:05

🏦 Sponsorship and the Creation of the 'Man V/S Money' Series

The final paragraph steps out of the historical narrative to discuss the creation and sponsorship of the 'Man V/S Money' series. It provides insight into the challenges of finding a sponsor for a project of this scale and the importance of Stable Money's support. The paragraph reflects on the process of pitching the series to the sponsor, the decision-making involved, and the value that both the creators and the sponsor see in the project. It also serves as a call to action for viewers to download the Stable Money app, highlighting its features and benefits, and expresses gratitude to the audience and the sponsor for their support in making the series possible.

Keywords

💡Clan

A clan refers to a group of people united by a common ancestry or a kinship bond. In the context of the video, Dada's clan represents the early human communities where members relied on each other for survival, sharing resources and responsibilities. The script mentions how Dada's clan lived in a tight-knit community in 50,000 BC, emphasizing the importance of cooperation and mutual support in early societies.

💡Survival

Survival in this video script signifies the struggle of early humans to live and thrive in a challenging environment. The script describes the harsh conditions faced by Dada's clan, such as the need to create tools, hunt, and build shelters, illustrating the concept of survival as a fundamental drive that shaped early human behaviors and social structures.

💡Gifting Economy

The gifting economy is a system where goods and services are given without any immediate expectation of direct return. The video script uses this term to describe the early economic model of Dada's clan, where members shared resources and supported each other without the concept of money or trade. It highlights the communal nature of early human societies and the challenges they faced in resource distribution.

💡Barter Exchange

Barter exchange is a method of trade where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money. The script introduces the concept of barter exchange as the earliest form of trade that emerged when different clans began to exchange their unique resources, like Dada's clan trading seashells for Flinstones from another clan.

💡Specialisation

Specialisation refers to the process in which individuals or groups focus on a specific task or activity, becoming highly skilled in that area. In the video script, the concept of specialisation is introduced as a solution to the problems of the gifting economy, where each member of the clan focuses on one task, leading to increased efficiency and expertise, and the development of a barter system.

💡Double Coincidence of Wants

The double coincidence of wants is a concept in economics that describes the challenge in a barter system where two parties must each have what the other wants. The script mentions this concept to illustrate the limitations of the barter system, where a person with fish might not be able to get shoes in exchange if the shoe seller does not want fish but something else.

💡Currency

Currency is a generally accepted form of money, including coins and banknotes, that is used in exchange for goods and services. The video script discusses the evolution of currency from commodities like barley to metals like gold and silver, explaining how these items were chosen for their universal acceptance, intrinsic value, divisibility, and durability, which facilitated trade and storage of wealth.

💡Divisibility

Divisibility in the context of the video refers to the property of a good or currency to be easily divided into smaller parts without losing its value. The script highlights the importance of divisibility when discussing the transition from bulky commodities like barley to more manageable forms of currency like silver shekels, which could be divided into smaller units for transactions.

💡Indivisibility of Goods

Indivisibility of goods is an economic concept where a good cannot be divided without losing its value or becoming unusable. The script uses the example of a horse that cannot be split in half to illustrate the problem of indivisibility in the barter system, which can limit the flexibility of trade and exchange.

💡Perishable

Perishable goods are items that can decay or spoil over time, such as food products. In the video script, the term is used to describe the challenges of using certain goods as currency or for storage, as they cannot be kept indefinitely without losing their value. The example given is of vegetables that can spoil if not sold or used in time.

💡Stable Money

Stable Money is mentioned in the script as the sponsor of the 'Man V/S Money' series. It is an app that allows users to compare fixed deposit (FD) rates from various banks and book the best FDs, providing a modern solution for wealth storage and liquidity. The script uses Stable Money as a contemporary example of how technology addresses the ancient problem of storing and managing wealth effectively.

Highlights

The concept of a 'Gifting Economy' where resources were shared among the community without the need for money.

Early humans faced survival challenges and had to create tools, hunt, and build shelters without the concept of currency.

The emergence of 'Barter Exchange' as the first form of trade where resources were exchanged directly without money.

The role of 'Specialisation' in improving efficiency and production, leading to surplus goods and the need for exchange.

The problems of the barter system, including 'Double coincidence of wants' and 'Indivisibility of goods', which hindered efficient trade.

The introduction of 'Cuneiform writing tablets' and 'Papyrus scrolls' as early forms of record-keeping in trade and commerce.

The use of 'Standardised Bricks' and other innovations in building and art that came with the development of civilisations.

The shift from the barter system to the use of 'Barley' as a form of currency in Mesopotamia due to its wide acceptance and divisibility.

The creation of 'Silver Shekel' as a larger unit of currency to facilitate larger trades and the concept of 'Gur' equivalent to 300 Sila of Barley.

The challenges of storing wealth in the form of perishable goods like barley and the need for more durable forms of currency.

The transition to using metals like gold and silver as currency due to their rarity, durability, and divisibility.

The societal agreement on the value of metals and the role of rulers in establishing trust in metal currencies.

The issues with metal currency such as divisibility for small transactions and the risks of carrying large, valuable pieces.

The introduction of the Stable Money app as a modern solution for managing savings and investments, offering a comparison of FD rates and instant withdrawals.

The importance of sponsorship and collaboration between creators and brands to produce educational content with real-world applications.

The creator's personal journey and challenges in developing the 'Man V/S Money' series, emphasizing the value of educational content and community support.

Transcripts

Let's go back in time.

To your great, great, great, great, great...

Actually 281 times great grandfather named 'Dada'.

In 50,000 BC, he used to live in a small tightly-knit clan.

If you look around, you will find dense forests,

beautiful beaches and clean air to breathe.

Oh Wow! This is a tree. I didn't know.

Oh Wow! Soil.

Oh Wow! Animal.

Run.

Since earth is not for beginners.

Survival of these naive people was next to impossible.

Create tools and then hunt with them.

Light a fire, cook food, make clothes, make tents.

Build defenses, create medicines.

And pay attention 24x7 so that nobody dies.

But If everyone from Dada's clan.

If they bond together, as a community.

Share resources, and support each other.

Maybe then, half of them might survive.

Why half?

Meet Early Anadi Andy.

Because we don't have the cure for cancer.

And I will kill you before cancer,

If you don't fill the water until evening.

So, Dada woke up and chose violence.

Where did everyone die?

The time is such, what If they are dead for real?

Hey Nasha, Agni....

I've got the animal.

Nice.

I've created medicines from some unique herbs.

Will you try?

Hey Dada, you are late. Quickly give us the animal.

We still have to cook.

This became their small 'Gifting Economy'.

Money did not exist back then.

Nothing to purchase. Nothing to sell.

And nothing to earn.

Any person, not just for himself.

Rather he used to work for an entire group.

This meant, 'Halwa' used to be split between everyone.

So, If you want to explore how does a community survive without money.

Then you can watch the M Night Shyamalan's 'The Village' movie.

There are few characters in the movie,

who willingly, left the capitalist world and created their own unique community,

wherein there is no concept of money.

Because, from money - greed, deception, and corruption gave them such wounds,

which were never fulfilled.

This was a spoiler and I am sorry for that.

Now, slowly issues started occurring within the gifting economy.

Let's see what are the challenges and how were they solved.

How was the money created and how did it evolve?

Then we will understand what will be the meaning of money in the future.

Hi, I am Money Minded Mandeep.

This is Stable Money presents...

'Man V/S Money' Episode 1.

Members from Dada's clan had co-operation.

There was mutual reciprocation.

They were very happy.

Slowly survival started becoming easy.

And simultaneously, when they travelled, they got to know.

Dada, look. There are people here.

They might have come from the hills.

And see their weapons shine brighter than ours.

Yes, they shine. Because their weapons are created from Flinstones.

It might be found in the hills.

Dada's clan didn't have it.

But, Dada hunts daily with utmost effort.

If he gets these Flinstones, then he can also make better weapons.

Hmm... But, why will they give us their Flinstones?

Because, we are offering them our seashells.

Depending on the area, every clan had some valuable resource.

Dada had sea shells, they used to make few decorative items with it.

Members from other clans, against the sea shells, used to be ready to exchange their resources.

This was the earliest form of 'Barter Exchange'.

And with that the concept of money came into existence.

You will think, how?

So, I'll ask, 'What is Money'?

Money is simply something that can get you what you need.

For eg: a prisoner from World War II,

who was spending his last days in the Auschwitz concentration camp.

If we ask him, 'What is Money?'

then money for him weren't notes.

Cigarettes were money for him.

Because, after offering cigarettes, he could buy other things.

2000 YEARS LATER.

- Great! Do one thing. You all go ahead.

I'll keep an eye here for a while.

Ok.

Laziness is quite contagious.

By looking at Andy's laziness, few others were inspired.

Because, in this gifting economy, resources were distributed amongst everyone.

Just by being in that clan and doing nothing, you could survive.

Then I fought with saber-tooth with such intensity.

How do I tell you, how I fought with him.

If you don't do the work now,

then I'll Shraddha and everyone else in the clan,

how I saved you from saber tooth that day.

And you would be walking around without a leg.

A way to tackle Andy and other lazy members,

was social sanction and reputational damage.

A sense of belongingness.

Humans never wanted to be removed from their community.

or their reputation being harmed.

But, Dada didn't have just one problem.

Listen, Nasha has hidden four sticks in his tent.

Why shouldn't we think about ourselves? You also hide two animals.

In such a gifting economy, wherein instead of keeping resources to themselves,

start distributing to everyone in the group.

In that economy, If few people start saving resources for themselves.

Then, honest and hard-working people like Dada will feel 'forced obligation.

Who is he doing all this for?

Wherein half of them don't agree to work,

and half of them have started engaging in corruption.

Tensed with this issue, Dada reaches out to their group's 'Official Economic Advisor'.

'Booti Baba'.

Because of a few corrupt members, we don't feel like working.

Dada, by your words, it feels like you are doing a job and you don't like it at all.

Why? Did you relate to it?

Hmm... This had to happen.

Free-loading means, 'Blood on the lion's mouth' (getting addicted to a bad habit).

- Meaning? - Nothing.

It's a 21st-century idiom.

The time has arrived for 'specialisation'.

Every person in the current system does multiple things.

So that the entire group survives.

But now every person will do one thing.

You only hunt for now.

With time, you will become a better hunter.

You will be able to hunt more in less time.

Nasha will only research medicines.

And will find cures for new diseases.

Andy will only create tools and weapons.

And with time, he will also create high quality tools.

Will you be able to?

If everyone gives their time and concentrates on one work.

They will become experts in that.

and everyone will have a better quality product or an expert skill.

Now If someone needs any material for survival.

They will exchange with each other.

- This means 'Barter System'. - Hmm.

That means I'll have to start working.

By achieving specialisation in one task,

members will finally be able to create surplus products.

Members can exchange those surplus products or services with each other.

That means, Barter system tackled both freeloading and corruption.

But, some new problems arrived with this solution.

Do you remember, I gave you 3 types of weapons, day before yesterday.

You give me 2 animals in exchange for that.

Ok! Bye.

Book Keeping - who, to whom, when, what, and how much was given...

If an account isn't kept of this, then the barter economy will fail.

Reading and writing wasn't introduced in those days.

Andy gave me 3 weapons

and tomorrow I'll give 2 animals.

Not 3, Dada.... 4... 4.

No, 3. You gave only 3 sticks.

We are witnesses to it.

Hey Nasha, give Andy some herbs.

Fool, has forgot that he gave me 3 weapons.

Now he is saying that he gave 4. He forgets.

It was kind of a 'Decentralised System'.

This meant everyone together used to validate each other's transactions, socially.

It reminded me of the future suddenly.

Now, you can remember the transactions until a limit.

With time, the population will increase.

Number of items to trade will increase.

And there could be so many transactions. To remember them, might not be possible.

It will be difficult for people to track their resources.

How much goods did I give and to whom?

How much goods did I get from someplace?

And how much goods are left with me?

Inventory management.

And debt. What about debt. How do we remember that?

I feel dizzy.

So they obviously had to invent better systems.

But don't forget, there could have been multiple small clans around the world.

which never met each other for thousands or crores of years.

It could be possible that certain clans had become more advanced than certain others.

They could have arrived at better systems.

And few clans could still be 100, 200 or 500 years backwards.

For instance, in Czechoslovakia, a wolf bone was discovered dating back to 30,000 BC.

on which 55 notches were made in sets of 5.

This is proof. They knew how to count.

And they used to use Tally system.

Either to log their trades or to calculate something else.

Whereas in some other part of the world, let's say a coastal area.

Colourful pebbles were used there.

Andy, until you give me 3 weapons and 2 sticks.

Until then, I'll keep 3 white pebbles & 2 black pebbles in this bag.

So that we remember.

Hmm! I'll have to hide these pebbles.

Then there was cave paintings too.

There were different reasons to create cave paitnings.

Few paintings depict who hunts how many.

Few paintings depict how many types of animals can be found in the nearby jungle.

And several times paintings were also created because,

so that people remember the large trade that's happening between them.

You get the point.

It's important to remember that,

who, to whom, when, what and how much they gave.

But why?

Let's back go to the gifting economy.

Not backwards. We need to move ahead.

Editor. Fast forward and move ahead to 10,000 BC.

We haven't settled permanently until now.

Do you know why? Because we have to travel places for hunting.

But If we learn agriculture.

Then we can stay at one place and create a bigger settlement.

Think about it.

There will be better defences, there will be food for everyone...

and we will be able to create stable houses.

I support this. I am tired of packing and unpacking.

So, come... Conduct farming.

More work.

Around 10,000 BC, Neolithic Revolution arrived.

That means, people started learning agriculture slowly.

Wherein, small settlements were converted into bigger villages.

And bigger villages were converted into bigger civilisations.

A village named Jericho existed in 8,000 BC in modern-day Palestine.

Jericho... Where did I hear about it?

For your consideration...

THE JERICHO

In 7,000 BC, Çatalhöyük, which is an even bigger settlement, formed in Turkey.

It is said that there were 10,000 people there.

And around 3,500 BC, we saw the birth of civilisation.

Mesopotamia had summer civilisations.

Egypt had Nile Valley Civilisation.

And India had Indus Valley Civilisation.

And now with these new civilisations, new complex trade structures arrived.

From simple crops to colourful woollen clothes,

there were different types of products found in Mesopotamia.

In fact, the first writing system was invented in Mesopotamia.

'Cuneiform writing tablets'.

On the other hand, Nile Valley Civilisation started making 'Papyrus scrolls'.

which was the paper's earliest version, wherein you could write.

At the same time, you could also find fine linen and perfumes in this civilisation.

And towards our end, in the Indus Valley Civilisation,

'Standardised Bricks' were invented.

Because of this, we could create perfectly geometrical buildings.

At the same time, fine ornate jewellery, seals and writing tablets,

Even cotton textiles were found in the Indus Valley civilisation.

And all these civilisations had some things in common.

For eg: weapons, metal-crafted items, dyes and pigments for colourful clothes and art.

Now slowly, in such good times, a problem started growing.

And the problem was nothing else but 'barter system' itself.

The same barter system due to which an economy was created.

Specialisation happened. People had jobs and professions.

There were a variety of products.

People were trading different types of products with each other.

Then what's the problem?

I need new shoes.

But the shoe seller says that he doesn't want my fish. He needs pottery.

And the pottery seller doesn't want fish. He needs grains.

Now, what should I do?

This is known as the 'Double coincidence of wants'.

Listen, you give me your horse. In return, you take 10 handmade baskets from me.

But, I would trade the horse in exchange for 20 baskets.

You give half the horse.

This is known as 'Indivisibility of goods'.

Someone gave me a stock tip.

Sell everything and stock vegetables.

But how would I know? All my vegetables have become useless.

And some goods are 'perishable'.

It could be possible this problem could have been solved.

But this huge problem wasn't solved.

Problem of exchange rates.

Let's say, there were only 5 goods in their village.

Fishes, pottery, baskets, cows and shoes.

So the villagers would have to remember 10 different exchange rates.

Fish to pottery, fish to basket, fish to shoes, fish to cows.

Pottery to baskets, pottery to shoes, pottery to cows.

Baskets to shoes, baskets to cows.

and shoes to cows.

What If they have 10 items in their village?

Then apply the formula, n(n-1)/ 2.

It means, 10(10-1)/2 = 45 exchange rates.

But, Baba, we now have more than 1,000 products in our village.

It means, 1000 *999/ 2.

That means 4,99,500 exchange rates will have to be remembered.

Dada, we failed here.

Let's go back to gifting economy.

Those were the good days, right?

Andy is correct. Those were the good days.

Because today, we do have wealth.

But we need currency.

Such a currency, which everyone must accept.

It must have intrinsic value so that we can consume it.

And we could keep it as a store of wealth.

It should be divisible, so that we are able to purchase small items with it.

And it should not be heavy as the horses or donkeys.

So that we are able to carry it while travelling abroad.

Hmm... So what is it that would fit all?

In history, different civilisations chose different items as their currency.

For eg: Mesopotamia chose 'Barley' as their currency.

This is widely acceptable, because everyone requires grains.

It does have intrinsic value. Because you can eat it and store it too.

And to an extent, it is portable too.

You can carry sacks of it and trade it abroad.

But, Baba If I work with Dada, how will he provide me salary?

And how will it be measured?

There is a problem of divisibility. Right?

By the way, If we deduct your leaves. Then there is no need to give you salary.

But, you don't worry.

We have created Barley's standardised unit of measurement.

This is '1 Sila of Barley'.

This would approximately contain 1 litre barley.

Your salary would be 4 litre barley.

So I will put 4 Sila barleys in your sack.

Similarly, for bigger trades, '1 Gur' or '1 Silver Shekel' was used.

1 Gur means 300 Sila of Barley or 1 Silver Shekel.

Give me this new sword.

This will cost you 2 Silver shekel or 600 Sila barley will also work.

Notice this. Just because their currency is barley.

That doesn't mean they trade everything in barley.

Instead of 300 Sila Barley. 1 Silver Shekel would also work.

It's their wish. They can trade anything.

Exactly! But for the majority of trades, currency was used.

Because, the problems of barter....

Exchange rates, indivisibility, double coincidence of wants, storage, etc.

It was impossible to manage.

But how was the account maintained for all the trades and debts in those days?

Well, in different civilisations, it used to happen based on different techniques.

For eg: In Mesopotamia, on wet clay tablets, symbols were drawn with the help of sticks....

to denote the quantity of barley.

For eg: On this tablet, it's written that Andy will give Dada and Nasha 1 silver shekel each.

What? Didn't this tablet flow away in the river?

- Hey! Who threw my accounts in the river? - Oops.

On the other hand, in Nile Valley Civilisation, as you know.

The earliest form of paper, i.e. Papyrus was developed.

To denote numbers and words on them, they used to draw objects and pictures.

This man this...

Professional Graphic Designer.

Highlighted Avatar...

He clicked the drop-down menu and then he just randomly selected Papyrus.

And small tablets have been discovered in our Indus Valley Civilisation.

But we are still decoding as to what is written on them?

I wish my debts were written in this language too.

ONE SEASON LATER.

I thought I'll become rich.

But I'm only earning 10 Gur of barley every month.

When I get it home, then I realise 1 Gur was spoilt.

Or else the rats ate it.

What kind of wealth is this?

And after the 50th moon, I won't have space to keep the barley.

Hmm... If only in those days, Dada could keep his extra barley in such a place,

wherein there were no rats.

What If there would have been unlimited storage.

And instead of getting spoiled, barley could grow more.

Sadly, Dada didn't have any such solution.

But you have it.

Park your extra money in Bank FD.

In such an FD, wherein RBI gives you 5% guarantee.

And withdrawal is also done instantly.

And If you feel like, 6 - 7% return is valid in an FD.

There is a news for you.

You can get upto 9% interest rate in FD now.

You can find such FDs in Suryoday Small Finance Bank.

Utkarsh Small Finance Bank and Shivalik Small Finance Banks.

But to book FDs with them, you don't have to visit their branches.

Neither do you have to create a lot of physical paper work.

Nor do you have to create a new savings account.

You can find the link to Stable money app in the description below and in the top comment.

Just download it.

On the Stable Money app, compare FDs of more than 200 Banks.

And book the best FD through Stable Money app.

And during withdrawal, you can instantly withdraw through Stable Money app.

So, Isn't it savings liquidity with higher returns.

Super thank you to Stable Money for being the sponsor of 'Man V/S Money'.

Or else Dada's story would have remained unheard.

Come on, let's solve Dada's rats and storage problem.

The times of barley is coming to an end.

Now we need something that we can store for the long term.

Whose value should also be more. So that less storage space is required.

And what can we get in the market?

Metals.

Who will create this junk as currency?

What is the value in this?

Junk, i.e. something which is extremely useless.

Imagine, what will happen If we consider this as currency.

We considered the stone on the street as currency.

So everyone will lift the stone and become rich.

But metals, especially gold, silver, and bronze were shiny

and at the same time, their supply was quite limited.

You couldn't find them lying on the roads.

At the same time, they were durable.

The rats couldn't eat them.

And they were divisible too.

These are rare items. We know this in the 21st century.

What did people find in metal in those days?

All of this started happening slowly.

i.e. In today's time, the value of gold is only....

Because, people around the world collectively agree that gold is valuable.

Similarly, early civilisations also collectively agreed.

There is value in shiny items too.

And this agreement didn't happen in a meeting.

Because these metals were rare, so whoever had it.

their status in society would increase.

Women in their families had good jewelry too.

So in weddings or other ceremonies,

whenever they used to flaunt their gold, their status would increase.

It means If we all agree that jokes are funny.

Similarly, people assumed that metals are precious.

- There is no good logic to it. - Exactly!

And for civilisation-wide acceptance,

their rulers and kings also played a huge role.

When rulers declared metal as their official currency,

then everyone's trust in that metal increased.

Everyone had confidence that every shopowner will accept their metal.

Similar to how every country keeps a reserve of gold with them.

With which, we as citizens get the confidence,

we can store gold with us.

Because this is the store of wealth.

But, metals had their own problems, which will be mentioned in some time.

How will we divide the bigger gold and silver pieces?

How will we purchase toffees?

We won't be able to cut a small silver piece.

And If we carry this huge piece while travelling or If someone robs us,

Won't all the wealth be robbed?

These are a few questions. We'll answer in Episode 2.

You think about it too.

Share this story with friends. Especially with your kids.

And please note, this video comes with Notes.

Wherein there are a lot of interesting details, you'll find it quite interesting to read.

You can download the notes and the Stable Money app from the description or top comment.

Ok. Bye.

[POST CREDITS]

Hi Jagruk Janta, How did you like the video?

Definitely mention it in the comments.

Tell us If you liked the trailer too.

If you are still watching, then firstly thank you so much.

And how would I know If you are watching it,

then definitely mention in the comments.

'Mazza aaya' (Had fun).

I would like to have 1-2 minute heart to heart conversation with you.

Firstly, If you are watching the video and you like it,

then please like the video, subscribe to the channel.

So that we keep doing more such similar work.

And definitely share this video with your kids and teenagers.

Because, as I mentioned in the trailer, all these things are not taught in school.

Then who will teach us?

Who will dumb down to this level?

So that you understand everything.

This project 'Man V/S Money', we created its ideation months ago.

I think it was the beginning of the year, in the month of February.

We thought we got to do something great this year.

So I had an idea, let's create a 'Man V/S Money' type of series.

wherein we will talk about money's evolution, money's properties,

What is inflation? Why does it happen?

Why does it happen anyway?

I had an immense hunger to teach a lot of things in simple words.

But there were a lot of problems.

Because, firstly we assessed this will be a huge project.

And especially a research team will be required for this.

A lot of resources will be utilised in production and post-production.

It was also necessary to decide whether we could do the animations inhouse or hire an agency.

which we eventually did.

After assessing all of it, we understood that it's expensive.

And we can't do this inhouse on our expense.

Or else it will be a loss making deal.

So we had to find a sponsor, that is certain.

But how we do find one. That's a huge challenge.

Because, once we have sponsors. Once any creator has sponsors.

Sponsor i.e. a brand,

whose annual projected, revenue projected growth is already formed.

Their budgets are pre decided. as to how much needs to be spent on marketing in every quarter.

And their Performance Marketing Managers.

They report to their CXOs, that they spent a certain amount on marketing.

In return, the brand earned a certain revenue and PR, and so on.

So usually brands are the one's who come to creators like us, for their campaigns.

So they approach us and tell us that they have a certain campaign.

They want us to create 1 video or 4 videos, in order to promote a certain product.

But on the flip side, when a creator builds a campaign or creates a project.

And If they want a brand to fund them.

So this seems like...

That an entrepreneur is approaching to fund his business.

Because this was not part of the brand's plan.

No one is sitting here for us. That Mandeep or RJ or anyone will have an idea.

They will create a project next year

and we have to sponsor that because we will gain something eventually.

It doesn't happen like that.

So naturally, why should any brand sit with us, and listen to our dream?

Right? And decide to fund us.

It happens very rarely. Hence I would like to thank Stable Money again.

Because, they gave us their time and we made them listen.

That we want to do all of this.

Then we made them understand, what they gain If they sponsor us.

And after a few discussions, Stable Money agreed.

This series 'Man V/S Money' which is formed now. It is because of Stable Money.

I like it very much. Usually, we create brand campaigns,

We do decide whether the brand is good or bad. That is our call.

I like it when sometimes, we thought of doing something

which is to add good value to society.

Brand also felt that I should also be a part of this.

So I'll say thank you to you for watching

and thank you Stable Money for supporting this project.

And If you still haven't downloaded Stable Money, then needless to say.

It's a great app. You can compare all the bank FD rates.

You can book the best FD through the app.

which you might have already heard in the plug in.

Download Stable Money. Please give it a try.

I am sure you will not regret it and you are doing something good for yourself.

Atleast your Emergency Fund, which you might need anytime.

With the instant withdrawal facility.

You can book an FD with the Stable Money app.

In fact, you will find an Emergency calculator in the Stable Money app.

You can add your numbers in that and check...

how much amount you must keep in Emergency.

And you can create an FD based on that amount.

So do check out Stable Money from the description and top comment.

Thank you everyone for making this possible.

There are a lot of people. I am sure you must have seen the credits.

I will meet you in Episode 2. Thank you.

Know what you did.

I know what you did.