Heckscher on the Slow Monetization of Sweden and His Incidental Refutation of Jevons and Menger
Eli F. Heckscher found that in 16'th century Sweden: 1) indirect barter was the most common exchange method and 2) monetary exchange was carried out with different coins, none a generally accepted medium of exchange. These findings refute models of the emergence of money, which builds on Jevons and Menger. Heckscher and later Wesley C. Mitchell thought the historical evolution of the exchange syst
