The new interpretation shows that the Vikings had a system where both oxen and silver served as units of payment. This system allowed for multiple types of units of accounts to be used concurrently, reducing transaction complexity and making it easier for people to meet their financial obligations. The new interpretation also aligns better with how the system functioned later according to later regional laws and is, according to Rodney Edvinsson, significant for our understanding of both Scandinavian and European monetary history."As an economic historian, I particularly look for historical data to be economically logical, that is, to fit into other contemporary or historical economic systems. The valuation of an ox at two ore, or 50 grams of silver, in 10th-century Sweden resembles contemporary valuations in other parts of Europe, indicating a high degree of integration and exchange between different economies," says Rodney Edvinsson.
A human thrall was six times as expensive, if you're keeping score at home.
2 comments:
One of those thralls may have been a ggggg-grandmother of mine in Sweden, originally from the Eastern Mediterranean or even deeper into Asia.
And to no surprise to anyone It all comes back around to steak…..
Reverend Horton Heat - Eat Steak
https://m.youtube.com/watch?v=wQynViAF6Ds
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