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- W2997443872 abstract "This paper studies the actual appearance and circulation of Choo-po(麤布) in early Chosŏn.BR Choo-po, which means loose cloth or fabric, first appeared in the middle of the 15th century, and it was widely circulated in various forms including Sang-mok(常木) that is roughly 16 meter long and with 3 Seung(升), where 1 Seung means the warp of 80 strings. In the course of the circulation, short single-woven cloth as well as short cloth and 2 Seung Cloth were also broadly used in the market.BR Choo-po, which came into existence to replace the role of hemp cloth as a fractional money, was widely circulated money suited to the development of the rural or peasant exchange economy of the lower social stratum at the time. The Chosŏn government continued to prohibit the use of such money as a part of its monetary policy, but it was not effective.BR In the sixteenth century, Chosŏn was at the stage of the Choo-po economy. In both the private exchange economy and the national financial sector, Choo-po became the base currency. It was the final and ultimate form of commodity money in Korea’s currency history. Moreover, it was at the quasinominal level of money, which later served as the basis for the emergence of metal money." @default.
- W2997443872 created "2020-01-10" @default.
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- W2997443872 date "2017-06-30" @default.
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- W2997443872 title "Circulation of Choo-po and Monetary Economy in Early Chosŏn" @default.
- W2997443872 doi "https://doi.org/10.16912/tkhr.2017.6.234.113" @default.
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