The aim is to apply principles and concepts from a variety of social science disciplines e. Topics include how technology changes relationships, the cumulative advantages and disadvantages associated with technology, digital natives versus digital immigrants, the pace of technological change, changes to the nature of how people learn and think, and the meaning of technology in society.
History of money Paper currency first developed in Tang Dynasty China during the 7th century, although true paper money did not appear until the 11th century, during the Song Dynasty. The usage of paper currency later spread throughout the Mongol Empire.
European explorers like Marco Polo introduced the concept in Europe during the 13th century. The perception of banknotes as money has evolved over time.
Originally, money was based on precious metals. Banknotes were seen by some as an I. With the removal of precious metals from the monetary system, banknotes evolved into pure fiat money. List of Chinese inventionsEconomy of the Song Dynastyand Jiaozi currency Development of the banknote began in the Tang Dynasty during the 7th century, with local issues of paper currency, although true paper money did not appear until the 11th century, during the Song Dynasty.
Several coins could be strung together on a rope. Merchants in China, if they became rich enough, found that their strings of coins were too heavy to carry around easily.
To solve this problem, coins were often left with a trustworthy person, and the merchant was given a slip of paper recording how much money they had with that person. If they showed the paper to that person, they could regain their money. Eventually, the Song Dynasty paper money called " jiaozi " originated from these promissory notes.
By the Song Dynastyshort of copper for striking coins, issued the first generally circulating notes. A note is a promise to redeem later for some other object of value, usually specie.
The issue of credit notes is often for a limited duration, and Advantages and disadvantages of forensic science some discount to the promised amount later. The jiaozi nevertheless did not replace coins during the Song Dynasty; paper money was used alongside the coins.
The central government soon observed the economic advantages of printing paper money, issuing a monopoly right of several of the deposit shops to the issuance of these certificates of deposit.
Even before this point, the Song government was amassing large amounts of paper tribute. For the printing of paper money alone, the Song court established several government-run factories in the cities of Huizhou ,[ which? The original notes during the Yuan Dynasty were restricted in area and duration as in the Song Dynasty, but in the later course of the dynasty, facing massive shortages of specie to fund their ruling in China, they began printing paper money without restrictions on duration.
The Venetian merchants were impressed by the fact that the Chinese paper money was guaranteed by the State. European explorers and merchants[ edit ] According to a travelogue of a visit to Prague in by Ibrahim ibn Yaqubsmall pieces of cloth were used as a means of trade, with these cloths having a set exchange rate versus silver.
In the beginning these were personally registered, but they soon became a written order to pay the amount to whoever had it in their possession. These notes are seen as a predecessor to regular banknotes by some but are mainly thought of as proto bills of exchange and cheques. In the 14th century, it was used in every part of Europe and in Italian city-state merchants colonies outside of Europe.
For international payments, the more efficient and sophisticated bill of exchange "lettera di cambio"that is, a promissory note based on a virtual currency account usually a coin no longer physically existingwas used more often.
All physical currencies were physically related to this virtual currency; this instrument also served as credit. Birth of European banknotes[ edit ] The first paper money in Europe, issued by the Stockholms Banco in The goldsmith -bankers of London began to give out the receipts as payable to the bearer of the document rather than the original depositor.
This meant that the note could be used as currency based on the security of the goldsmith, not the account holder of the goldsmith-banker.
This pivotal shift changed the simple promissory note into an agency for the expansion of the monetary supply itself. As these receipts were increasingly used in the money circulation system, depositors began to ask for multiple receipts to be made out in smaller, fixed denominations for use as money.
The receipts soon became a written order to pay the amount to whoever had possession of the note. These notes are credited as the first modern banknotes. Cheap foreign imports of copper had forced the Crown to steadily increase the size of the copper coinage to maintain its value relative to silver.
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The heavy weight of the new coins encouraged merchants to deposit it in exchange for receipts. These became banknotes when the manager of the Bank decoupled the rate of note issue from the bank currency reserves.
Three years later, the bank went bankrupt, after rapidly increasing the artificial money supply through the large-scale printing of paper money. The Bank began the first permanent issue of banknotes a year later.
The modern banknote rests on the assumption that money is determined by a social and legal consensus. By the late 17th century, this new conceptual outlook helped to stimulate the issue of banknotes. The economist Nicholas Barbon wrote that money "was an imaginary value made by a law for the convenience of exchange.
Established in to raise money for the funding of the war against Francethe bank began issuing notes in with the promise to pay the bearer the value of the note on demand.In little more than two decades, DNA profiling has become one of the most valuable tools in forensic science.
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Science has revolutionized our way of life. However, it has both advantages and disadvantages. They are each discussed below briefly.
Advantages. Board of Directors. Journal of Behavioral Profiling. Annual Meeting. Criminal Profiling Professional Certification Act of Some pros of forensic science are that it provides evidence that can be used to help convict criminals and overturn wrongful convictions, but it can also be costly and time consuming to process the evidence.
Even when there is some type of forensic evidence, it is possible for the evidence to be.