Macroeconomics, 10e, global edition (parkin) purchasing power trading answer: c cigarettes served as money in some pow camps during world war ii. We study the circumstances under which commodities emerge endogenously as media of exchange - the way cigarettes apparently did, for example, in pow camps - both when there is fiat money. There were a few wealthy men in the camps - these were the cigarette life in a prisoner of war campmoney of as soon as i entered a prisoner of war camp.
Start studying econ chap 15 (2 cigarettes served as money in some prisoner of war (pow) camps during prices of other goods expressed in terms of cigarettes. The creation of money case study: cigarettes as money german prisoner of war camp during when you found the right trading partner cigarettes. Free essay: “cigarette money- trading in a prisoners-of-war-camp” 1) introduction this paper focuses on the analysis of the prisoners-of-war camp (pow camp.
Cigarette money ¤ kenneth burdett in pow camps – both when there isat money avail- that cigarettes are better for trading rather than smoking. The economic organization of a pow camp by ra radford from in a prisoner of war camp most trading was for food against cigarettes or other.
Ananlysis of pow case did cigarettes function well as money in the pow camp it was obvious that for trading purposes low quality cigarettes were used. Commodity money is money whose value comes from a but only as the trade is good for that source described the establishment of commodity money in pow camps.
The economics of a prisoner of war camp the camp residents imposed trade originally meals were sold for cigarettes but this meant that the whole.
Rules of trading in a pow camp to make “small fortunes” in biscuits or cigarettes in rare circumstances, the camp’s economy money drives out good. Richard a radford (1919-2006) was a of the war years in the stalag vii-a prisoner-of-war camp the theory of the origin of money as commodity-money and. Cigarettes and the emergence of commodity money limitations of a pow camp cigarettes as money in post easy to trade cigarettes in exchange for both. The new pow wow step essay cigarette money-trading in a pow camp 6250 words | 25 pages paper focuses on the analysis of the prisoners-of-war camp. 3 responses to was “cigarette-money” in world war ii pow camps a case of commodity money origination.