A brief overview of how money became the measure of everything
‘ How money became the measure of everything? ’- this has been the most common topics usually covered in an economics assignment . Many economics students find it difficult to write on this topic due to the complications involved. Here is a simplified version of this topic for you. Money became the measure of everything- Explained Initially, colonial America did not consider the well-being of human beings in terms of economics output or monetary earnings. Things started changing after the 18 th century. Here’s the history of how money became the measure of everything. How and when did everything start? During the mid-19 th century, some of the industrialising nations like Germany, England and the United States began a new historical pattern. This was the time when American policymakers and businesspeople started measuring progress in dollars. They started tabulating social welfare on the basis of people’s capacity to generate income. Until the 1850s, A...