British Museum blog

Finding out how money actually works


Maxim Bolt, researcher, British Museum

I am the anthropologist on the British Museum’s Money in Africa project. I have come to Malawi, in central-southern Africa, to explore how money actually works – in action, outside the glass-fronted cases of our gallery in the Museum.

Maxim Bolt, right, conducting research in Southern Africa on a previous project

Maxim Bolt, right, conducting research in Southern Africa on a previous project

Living and spending time with people in Blantyre, the country’s economic hub, I am learning about how people handle their cash. And, in a country where more and more people have bank accounts, I am learning what people use them for.

This might all sound obvious, but here are a few quick first impressions that point to differences from what UK readers might be familiar with. The highest value banknote – 500 Malawian Kwacha (MK500) – is big, colourful, covered in elaborate security features, and often brand new. It looks and feels high value. But it is worth about £2, and large payments involve thick wads of notes (plastic cards are almost never used). Meanwhile, although the cost of a newspaper is MK200, people use the battered MK20 and MK50 notes all the time. Public transport in mini-buses, for example, costs MK50 or MK70. As I quickly discovered, all this means a lot of paper.

And bank accounts? Considering all the paper, it is maybe unsurprising that, for some businesspeople I have met in Blantyre’s poorer, high-density urban areas, bank accounts offer protection against losing everything in a household fire, or a robbery. For others, bank accounts take all of those banknotes out of the everyday politics of family life. As I get to know these and other people better during my three months here, I hope to discover more about their concerns and goals. And I hope to understand the effects of people taking their cash out of their homes and businesses.

My research in its early days has taken me to poor urban areas and wealthy suburbs, to the streets of the city centre and to a peri-urban settlement (a settlement adjoining an urban one) built on the steep banks of a small stream. As I gradually learn more about the everyday realities of money in Malawi, I will be updating this blog, and would welcome any comments or questions. Hopefully, my posts will give you a sense of how wide-ranging the British Museum’s research is.

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The Roman emperor Marcus Aurelius was born #onthisday in AD 121.

Marcus Aurelius (AD 161-80), who appears on the coin set in this ring, is best known for his philosophical work, The Meditations. Although he was the most powerful man in the Roman Empire, he dwelt on the emptiness of glory: 'Shall mere fame distract you? Look at the speed of total oblivion of all and the void of endless time on either side of us and the hollowness of applause... For the whole earth is but a point, and of this what a tiny corner is our dwelling-place, and how few and paltry are those who will praise you.' It is ironic that such sentiments as these have preserved his fame to this day.
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In ancient Greece, powerful, shape-shifting gods provided compelling subjects for artists. The famous sculptor Phidias created a gold and ivory statue of Zeus, ruler of the gods, that was over 13 metres high for his temple at Olympia. One of the Seven Wonders of the Ancient World, it symbolised the awesome presence of the god at his sanctuary site. There was also drama to be found in the gods’ ability to change their form as a means of disguise. Zeus, ruler of the Olympian gods, could take animal form – he seduced Leda as a swan, carried away Europa as a bull and Ganymede as an eagle.

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You can see this figure in our exhibition #DefiningBeauty, until 5 July 2015.
Bronze statuette of Zeus. Roman period, 1st–2nd century AD, said to be from Hungary.
#art #museum #exhibition #ancientGreece #Zeus #gods This beautiful watercolour of Tintern Abbey is by J M W Turner, thought to have been born #onthisday in 1755.

Even before he had entered the Royal Academy schools at the age of 14, Turner had worked as an architectural draughtsman. This training is evident in his fascination with the details of the famous ruins of this twelfth-century Cistercian Abbey in Monmouthshire, which he visited in 1792, and again in 1793. Tourists of the time were as much impressed by the way that nature had reclaimed the monument as by the scale and grandeur of the buildings. Turner's blue-green washes over the abbey's far wall blend stone and leaf together, and on the near arch the spiralling creepers seem to make the wind and light tangible. 
#art #artist #Turner #history #watercolour
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