Episode 2. Trade, Laws and Wars of Sumer

History of Money, Banking, and Trade

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Prepare to step into the past and immerse yourself in the vibrant world of ancient Sumer. The world's first banks were far from the high-rises we see today - they were temples, buzzing hives of trade where people would deposit their valuables and receive goods in return. Along with the Damkaras, traders working on behalf of these temples, we'll explore how wealth was stored, redistributed, and the intense political pressure that could erupt into war over tribute payments.
Breathe life into the dry subject of finance as we trace the evolution of early Sumerian and Akkadian financial systems. Hear tales of how borrowing and lending could mean the difference between life and death, and marvel at the ingenious verification methods of the time, including tokens, clay cuneiform writing, and hollow clay balls. We'll dissect the implications of silver's transformative role in local economies and the advent of measuring goods in the value of silver - not to mention the world's first instance of compound interest, recorded on a clay cone!
Finally, we'll unveil the Code of Ur-Nammu, the world's oldest surviving law code, and explore how it set the standard for currency and established legal codes for trade. We'll confront the hard realities of how poor farming techniques and dwindling trade under the rule of the Guitians plunged Mesopotamia into a mini Dark Age. But even in darkness, there's light: We'll celebrate the advanced mathematical society of Sumer, whose contributions to our civilization continue to shape our world today. So buckle up, history buffs - this journey through time and trade is one you won't want to miss.

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1. Episode 2. Trade, Laws and Wars of Sumer (00:00:00)

2. Ancient Mesopotamian Money, Banking, Trade (00:00:03)

3. Evolution of Finance and Contract Systems (00:09:03)

4. Mathematics and Silver in Ancient Mesopotamia (00:23:39)

5. Origins of Money, Banking, Trade (00:37:03)