References

Aristotle (1984). Politics. Pp. 1986 in J. Barnes (Ed.), The Complete Works of Aristotle,

Princeton, NJ, USA, Princeton University Press.

Benz, M. (2010). The principle of sharing: An introduction. Pp. 1-18 in M. Benz (Ed.), The

Principle of Sharing. Segregation and Construction of Social Identities at the

Transition from Foraging to Farming, Ex Oriente, Berlin.

Chapman, A. (1980). Barter as a universal mode of exchange. Homme, 20(3), 33-83.

doi:10.3406/hom.1980.368100. Available at: https://www.persee.fr/doc/hom_0439-

4216_1980_num_20_3_368100

Childe, V.G. (1950). The urban revolution. The Town Planning Review, 21(1), 3-17.

Clower, R.W. (Ed.). (1969). Monetary Theory. Penguin, Harmondsworth.

Cribb, J. (2004). The origins of money - evidence from the ancient Near East and Egypt. Pp.

79-122 in G. Crapanzano (Ed.), La Banca Premonetale - Contributi culturale e

storici intornoalle prime forme di transazione mentaria, , Art Valley Association,

Milan, Italy.

Cribb, J. (2005). Money as a metaphor 1: Money is justice. Pp 417-438 Numismatic

Chronicle, 1 Royal Numismatic Society. Available

Davies, G. (2002). A History of Money. From Ancient Times to the Present Day, 3rd Edn.,

University of Wales Press, Cardiff.

https://www.persee.fr/doc/hom_0439-4216_1980_num_20_3_368100
https://www.persee.fr/doc/hom_0439-4216_1980_num_20_3_368100


25


Davies, J.K. (2005). Ancient economies: Models and muddles. Pp. 221-252 in H. Parkins and

C. Smith (Eds.), Trade, Traders and the Ancient City, Routledge, London and New

York.

de Bruin, B., Herzog, L., O'Neill, M. and Sandberg, J. (2018). Philosophy of Money and

Finance Accessed June 23, 2019, from

https://plato.stanford.edu/archives/win2018/entries/money-finance/

Douglas, A.X. (2016). The Philosophy of Debt, Routledge, New York.

Einzig, P. (1966). Primitive Money, 2nd Edn., Pergamon Press, Oxford.

Galbraith, J.K. (2010). Foreword. in W. Mosler (Ed.), Seven Deadly Innocent Frauds of

Economic Policy, Valance Co. Inc, USA.

Geva, B. (1987). From commodity to currency in ancient history: On commerce, tyranny and

the modern law of money. Osgoode Hall Law Journal, 25(1), 115-158.

Graeber, D. (2011). Debt: The First 5,000 Years, Melville House Publishing, Brooklyn, NY,

USA.

Grierson, P. (1977). The Origins of Money, Athlone Press, London.

Henry, J.F. (2004). The social origins of money: The case of Egypt. Pp. 79-98 in L. A. Wray

(Ed.), Credit and State Theories of Money, Edward Elgar, Cheltenham, UK and

Northampton MA, USA.

Hudson, J.F. (2004). The archaeology of money: Debt versus barter theories of money's

origins. Pp. 99-127 in L. A. Wray (Ed.), Credit and State Theories of Money, Edward

Elgar, Cheltenham, UK and Northampton, MA, USA.

Humphrey, C. (1985). Barter and economic disintigration. Man, 20(1), 48-72.

Ingham, G. (2004). The Nature of Money, Polity Press, Cambridge, UK and Malden, MA.

Jevons, W.S. (1875). Money and the Mechanism of Exchange, H.S. King & Co., London.

Keynes, J.M. (1914). What is money? The Economic Journal, 24(95), 419-421.

10.2307/2222005 Available at: http://www.jstor.org/stable/2222005

https://plato.stanford.edu/archives/win2018/entries/money-finance/
http://www.jstor.org/stable/2222005


26


Keynes, J.M. (1982). Keynes and ancient currencies. Pp. 223-294 in E. Johnson and D.

Moggridge (Eds.), The Collected Writings of John Maynard Keynes Vol 28 - Social

Political and Literary Writings, Cambridge University Press, Cambridge.

Knapp, G.F. (1924). The State Theory of Money, Macmillan and Company, London.

Martin, F. (2013). Money: The Unauthorised Biography, The Bodley Head, London.

Marx, K. (1954). Capital, Foreign Languages Publishing House, Moscow. Translation of the

3rd German Edition.

Menger, K. (1892). The origin of money. Economic Journal, 2(6), 236-255.

Minsky, H. (2008). Stabilizing an Unstable Economy, McGraw-Hill, New York.

Mitchell-Innes, A. (1913). What is money? The Banking Law Journal, (5), 377-408.

Available at: https://heinonline.org/HOL/P?h=hein.journals/blj30&i=405

North, D.C. (1984). Transaction costs, institutions, and economic history. Zeitschrift für die

gesamte Staatswissenschaft / Journal of Institutional and Theoretical Economics,

140(1), 7-17. Available at: http://www.jstor.org/stable/40750667

Oka, R. and Kusimba, C.M. (2008). The Archaeology of Trading Systems, Part 1: Towards a

New Trade Synthesis. Journal of Archaeological Research, 16(4), 339-395.

10.1007/s10814-008-9023-5 Available at: https://doi.org/10.1007/s10814-008-9023-

5

Plato (1992). The Republic, G. M. A. Grube, Trans. 2nd Edn., Hackett Publishing Co.,

Indianapolis, Cambridge.

Polanyi, K. (1944). The Great Transformation: The Political and Economic Origins of Our

Time, Farrar & Rinehart, New York.

Polyani, K. (1957). The economy as instituted process. Pp. 243-269 in K. Polyani, C. M.

Arensberg and H. W. Pearson (Eds.), Trade and Market in the Early Empires, The

Free Press, New York.

Powell, M.A. (1996). Money in Mesopotamia. Journal of the Economic and Social History of

the Orient, 39(3), 224-242. Available at: http://www.jstor.org/stable/3632646

https://heinonline.org/HOL/P?h=hein.journals/blj30&i=405
http://www.jstor.org/stable/40750667
https://doi.org/10.1007/s10814-008-9023-5
https://doi.org/10.1007/s10814-008-9023-5
http://www.jstor.org/stable/3632646


27


Quiggin, A.H. (1949). A Survey of Primitive Money. The Beginnings of Currency, Methuen

& Co., London.

Samuelson, P.A. (1967). Economics: An Introductory Analysis, 5th Edn., McGraw-Hill, New

York.

Schumpeter, P. (1972). History of Economic Analysis, George Allen & Unwin, London.

Seaford, R. (2004). Money and the Early Greek Mind: Homer, Philosophy, Tragedy,

Cambridge University Press, Cambridge.

Semenova, A. (2011). The origins of money: Evaluating chartalist and metallist theories in

the context of ancient Greece and Mesopotamia. Unpublished Ph.D Dissertation,

University of Missouri, Kansas City.

Service, E.R. (1966). The Hunters, Prentice-Hall, Englewood Cliffs, NJ.

Smith, A. (1776). An Inquiry into the Nature and Causes of the Wealth of Nations, W.

Strahan and T. Cadell, London.

Smith, B. (2001). Low-level food production. Journal of Archaelogical Research, 9, 1-43.

Svizzero, S. and Tisdell, C.A. (2015). Economic management of Minoan and Mycenaean

states and their development. Rivista di Storia Economica, 31(3), 373-393.

Szabo, N. (2002). Shelling Out: The Origins of Money Accessed June 24, 2019, from

https://fermatslibrary.com/s/shelling-out-the-origins-of-money

Tainter, J.A. (1988). The Collapse of Complex Societies, Cambridge University Press, New

York, USA and Cambridge, UK.

Tisdell, C. and Svizzero, S. (2017). The ability in antiquity of some agrarian societies to avoid

the Malthusian Trap and develop. Forum for Social Economics, 1-26.

10.1080/07360932.2017.1356344 Available at:

https://doi.org/10.1080/07360932.2017.1356344

Tisdell, C.A. (2017). Economics and Environmental Change: The Challenges We Face,

Edward Elgar Publishing, Cheltenham, UK, and Northampton, MA, USA.

https://fermatslibrary.com/s/shelling-out-the-origins-of-money
https://doi.org/10.1080/07360932.2017.1356344


28


Tykot, R.H. (2004). Trade and exchange. Pp. 65-71 in P. Bogucki and P. J. Crabtree (Eds.),

Ancient Europe: 8000 BC - 1000 AD Encyclopaedia of the Barbarian World Vol. I,

Charles Scribners & Sons, New York.

Wittfogel, K. (1957). Oriental Despotism: A Comparative Study of Total Power, Random

House, New York.





29


PREVIOUS WORKING PAPERS IN THE SERIES

ECONOMIC THEORY, APPLICATIONS AND ISSUES


1. Externalities, Thresholds and the Marketing of New Aquacultural Products: Theory and Examples by Clem
Tisdell, January 2001.

2. Concepts of Competition in Theory and Practice by Serge Svizzero and Clem Tisdell, February 2001.
3. Diversity, Globalisation and Market Stability by Laurence Laselle, Serge Svizzero and Clem Tisdell,

February 2001.

4. Globalisation, the Environment and Sustainability: EKC, Neo-Malthusian Concerns and the WTO by Clem
Tisdell, March 2001.

5. Globalization, Social Welfare, Labor Markets and Fiscal Competition by Clem Tisdell and Serge Svizzero,
May 2001.

6. Competition and Evolution in Economics and Ecology Compared by Clem Tisdell, May 2001.
7. The Political Economy of Globalisation: Processes involving the Role of Markets, Institutions and

Governance by Clem Tisdell, May 2001.

8. Niches and Economic Competition: Implications for Economic Efficiency, Growth and Diversity by Clem
Tisdell and Irmi Seidl, August 2001.

9. Socioeconomic Determinants of the Intra-Family Status of Wives in Rural India: An Extension of Earlier
Analysis by Clem Tisdell, Kartik Roy and Gopal Regmi, August 2001.

10. Reconciling Globalisation and Technological Change: Growing Income Inequalities and Remedial Policies
by Serge Svizzero and Clem Tisdell, October 2001.

11. Sustainability: Can it be Achieved? Is Economics the Bottom Line? by Clem Tisdell, October 2001.
12. Tourism as a Contributor to the Economic Diversification and Development of Small States: Its Strengths,

Weaknesses and Potential for Brunei by Clem Tisdell, March 2002.

13. Unequal Gains of Nations from Globalisation by Clem Tisdell, Serge Svizzero and Laurence Laselle, May
2002.

14. The WTO and Labour Standards: Globalisation with Reference to India by Clem Tisdell, May 2002.
15. OLS and Tobit Analysis: When is Substitution Defensible Operationally? by Clevo Wilson and Clem

Tisdell, May 2002.

16. Market-Oriented Reforms in Bangladesh and their Impact on Poverty by Clem Tisdell and Mohammad
Alauddin, May 2002.

17. Economics and Tourism Development: Structural Features of Tourism and Economic Influences on its
Vulnerability by Clem Tisdell, June 2002.

18. A Western Perspective of Kautilya‟s Arthasastra: Does it Provide a Basis for Economic Science? by Clem
Tisdell, January 2003.

19. The Efficient Public Provision of Commodities: Transaction Cost, Bounded Rationality and Other
Considerations.

20. Globalization, Social Welfare, and Labor Market Inequalities by Clem Tisdell and Serge Svizzero, June
2003.

21. A Western Perspective on Kautilya‟s „Arthasastra‟ Does it Provide a Basis for Economic Science?, by
Clem Tisdell, June 2003.

22. Economic Competition and Evolution: Are There Lessons from Ecology? by Clem Tisdell, June 2003.
23. Outbound Business Travel Depends on Business Returns: Australian Evidence by Darrian Collins and

Clem Tisdell, August 2003.

24. China‟s Reformed Science and Technology System: An Overview and Assessment by Zhicun Gao and
Clem Tisdell, August 2003.

25. Efficient Public Provision of Commodities: Transaction Costs, Bounded Rationality and Other
Considerations by Clem Tisdell, August 2003.

26. Television Production: Its Changing Global Location, the Product Cycle and China by Zhicun Gao and
Clem Tisdell, January 2004.

27. Transaction Costs and Bounded Rationality – Implications for Public Administration and Economic Policy
by Clem Tisdell, January 2004.

28. Economics of Business Learning: The Need for Broader Perspectives in Managerial Economics by Clem
Tisdell, April 2004.

29. Linear Break-Even Analysis: When is it Applicable to a Business? By Clem Tisdell, April 2004.
30. Australia‟s Economic Policies in an Era of Globalisation by Clem Tisdell, April 2004.
31. Tourism Development as a Dimension of Globalisation: Experiences and Policies of China and Australia

by Clem Tisdell, May 2004.



30


32. Can Globalisation Result in Less Efficient and More Vulnerable Industries? by Clem Tisdell, October
2004.

33. An Overview of Globalisation and Economic Policy Responses by Clem Tisdell, November 2004.
34. Changing Abundance of Elephants and Willingness to Pay for their Conservation by Ranjith Bandara and

Clem Tisdell, December 2004.

35. Economic Globalisation: The Process and its Potential Social, Economic, and Environmental Impacts by
Clem Tisdell, October 2005.

36. Introduction: An Overview and Assessment of The Economics of Leisure by Clem Tisdell, November
2005.

37. Globalisation and the Economic Future of Small Isolated Nations, Particularly in the Pacific by Clem
Tisdell, November 2005.

38. Business Partnerships in a Globalising World: Economic Considerations by Clem Tisdell, December 2005.
39. Economic and Business Relations Between Australia and China: An Overview and an Assessment by Clem

Tisdell, November 2006.

40. China‟s Economic Performance and Transition in Relation to Globalisation: From Isolation to Centre-
Stage? by Clem Tisdell, November 2006.

41. Knowledge and the Valuation of Public Goods and Experiential Commodities: Information Provision and

Acquisition by Clem Tisdell, November 2006.

42. Students‟ Evaluation of Teaching Effectiveness: What Surveys Tell and What They Do Not Tell by Clem
Tisdell and Mohammad Alauddin, November 2006.

43. Economic Prospects for Small Island Economies, Particularly in the South Pacific, in a Globalising World
by Clem Tisdell, November 2006.

44. The Evolution and Classification of the Published Books of Clem Tisdell: A Brief Overview by Clem
Tisdell, July 2007.

45. Cost-Benefit Analysis of Economic Globalization by Clem Tisdell, January 2008.
46. Economic Benefits and Drawbacks of Cities and their Growth Implications by Clem Tisdell, January, 2008.
47. Interfirm Networks in the Indonesian Garment Industry: Trust and Other Factors in their Formation and

Duration and their Marketing Consequences by Latif Adam and Clem Tisdell, April, 2008.

48. Trust and its Implications for Economic Activity, Welfare and Globalisation by Clem Tisdell, April, 2008.
49. Economics, Corporate Sustainability and Social Responsibility by Clem Tisdell, May 2008.
50. Structural Transformation in the Pig Sector in an Adjusting Vietnam Market: A Preliminary Investigation

of Supply-side Changes by Clem Tisdell, September 2008

51. Thirty Years of Economic Reform and Openness in China: Retrospect and Prospect by Clem Tisdell,
October 2008.

52. Quantitative Impacts of Teaching Attributes on University TEVAL Scores And Their Implications by Clem
Tisdell and Mohammad Alauddin, April 2009.

53. A Comparative Economic Study of the Chinese and Australian Cotton Production by Xufu Zhao and Clem
Tisdell, May 2009

54. Trends in Vietnam‟s Pork Supply and Structural Features of its Pig Sector by Clem Tisdell, May 2009.
55. Economic Reform and Openness in China: China‟s Development Policies in the Last 30 Years by Clem

Tisdell, June 2009.

56. The Survival of Small-scale Agricultural Producers in Asia, particularly Vietnam: General Issues Illustrated
by Vietnam‟s Agricultural Sector, especially its Pig Production by Clem Tisdell, June 2009.

57. Economic Benefits and Drawbacks of Cities and their Growth Implications by Clem Tisdell, September
2009.

58. Economic Challenges Faced by Small Island Economies: An Overview by Clem Tisdell, September, 2009.
59. Natural Protection from International Competition in the Livestock Industry: Analysis, Examples and

Vietnam‟s Pork Market as a Case by Clem Tisdell, Ma. Lucila Lapar, Steve Staal and Nguyen Ngoc Que.

November, 2009.

60. Agricultural Development in Transitional Asian Economies: Observations Prompted by a Livestock Study
in Vietnam by Clem Tisdell. May 2010

61. An Economic Study of Small Pigholders in Vietnam: Some Insights Gained and the Scope for Further
Research by Clem Tisdell, May 2010.

62. The Excitement and Value of Discovering Tourism Economics: Clem Tisdell‟s Journey by Clem Tisdell,
May 2010.

63. The Competitiveness of Small Household Pig Producers in Vietnam: Significant Research and Policy
Findings from an ACIAR-sponsored Study and their Limitations by Clem Tisdell, November 2010.



31


64. Animal Health Economics. What Can It Do? What Are The Big Questions? By Clem Tisdell December
2010.

65. Agriculture, Structural Change and Socially Responsible Development in China and Vietnam. By Clem
Tisdell, April 2012.

66. My Book, “Economic Development in the Context of China”: Its Origins plus Experiences in China in
1989 and their Sequel”. Clem Tisdell, August, 2013.

67. Information Technology‟s Impacts on Productivity, Welfare and Social Change: General Observations.
Clem Tisdell, July, 2014.

68. Theories about the Commencement of Agriculture in Prehistoric Societies: A Critical Evaluation by Serge
Svizzero and Clement Tisdell, August 2014.

69. Inequality and Wealth Creation in Ancient History: Malthus‟ Theory Reconsidered by Serge Svizzero and
Clement Tisdell, September, 2014.

70. Information Technology‟s Impacts on Productivity, Welfare and Social Change: Second Version by
Clement Tisdell, December 2014.

71. The Failure of Neoclassical Economics Modelling and Human Behavioural Ecology to Satisfactorily
Explain the Evolution of Neolithic Societies by Clem Tisdell and Serge Svizzero, February, 2015.

72. The Collapse of Some Ancient Societies due to Unsustainable Mining Development (A Draft) by Clem
Tisdell and Serge Svizzero, April 2015.

73. Rent Extraction, Population Growth and Economic Development: Development Despite Malthus‟ Theory
and Precursors to the Industrial Revolution by Clem Tisdell and Serge Svizzero, May 2015.

74. The Role of Palatial Economic Organization in Creating Wealth in Minoan and Mycenaean States by Serge
Svizzero and Clem Tisdell, June 2015.

75. Different Behavioral Explanations of the Neolithic Transition from Foraging to Agriculture: A Review by
Clem Tisdell and Serge Svizzero, January 2016.

76. Financial Implications of Seasonal Variability in Demand for Tourism Services (A Draft) by Clem Tisdell,
August, 2016

77. Financial Implications of Seasonal Variability in Demand for Tourism Services (Final Draft) by Clem
Tisdell, September, 2016

78. Estimating Input-Mix Efficiency in a Parametric Framework: Application to State-Level Agricultural Data
for the United States by Shabbir Ahmad, September 2017

79. Bounded Rationality, Satisficing and the Evolution of Economic Thought: Initial Draft by Clem Tisdell,
November 2017

80. Economic Theory, Phoenician Pre-coinage External Trade, Changes in the Economic Surplus and its
Appropriation – An Initial Perspective by Clement Tisdell and Serge Svizzero, July 2019












ECONOMIC THEORY,
Working Paper No. 81

THE UNIVERSITY OF QUEENSLAND
ECONOMIC THEORY, APPLICATIONS AND ISSUES
ECONOMIC THEORY, APPLICATIONS AND ISSUES