Robert Seddon 1's Comments

Aside from officially backed currencies, there's also the case of cigarettes being used as money in prisons.

http://books.google.com/books?id=8t8CEnOhQeEC&pg=RA2-PA306&lpg=RA2-PA306&dq=cigarettes+prison+currency&source=web&ots=WPyHkLb9lV&sig=9S-5k7J-FQwA-hVUrNO-QJnNmt4
http://caracaschronicles.blogspot.com/2002/09/reinventing-hyperinflation-wheel.html

'Soon after his release, Radford described the system that developed in a classic paper entitled “The Economic Organization of a POW Camp,” a write-up that's much appreciated by undergraduates everywhere for its skill at explaining the mysteries of monetary systems. What interested Radford the most was the way that cigarrettes, as a means of exchange, were subject to all of the fluctuations of normal currency.'
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  • Member Since 2012/08/17


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