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Wang Mang reformed the currency four times. Why did he say that he finally destroyed himself?
Throughout history, it can be found that emperors of all dynasties have carried out monetary reforms after taking office. These reforms have promoted domestic prosperity and development to a certain extent, but there are also some untimely monetary policies that make the domestic economy chaotic. Today we will look at how Wang Mang's four reforms finally destroyed himself. The reason is that he doesn't understand the meaning of money.

First, plundering wealth Wang Mang implemented a series of reforms after he became a fu. First of all, he proposed measures such as granting pensions to officials and developing education. But the implementation of these needs financial support, so he took the lead in donating money and fields and encouraged officials to follow suit. However, the money was far from enough for reform, so the first monetary reform was carried out with the aim of plundering folk wealth. Later, after Wang Mang usurped the throne, he carried out the second reform with the purpose of plundering wealth. Both reforms were perceived by the people as Wang Mang's purpose, so the people resolutely refused to use the new version of the currency.

Second, the civil boycott Because the people constantly boycotted the currency issued by Wang Mang, the original demand for five baht increased, and many people even cast five baht privately. Of course, Wang Mang also violently suppressed these people and adopted the strategy of doing nothing. Later, the third reform and issuance of cloth coins ended in failure, because the purchasing power of money depends on its value. And cloth has no value among the people. After three monetary reforms, Wang Mang succeeded in harvesting people's grievances, so he promulgated a currency with a weight and face value similar to five baht in the fourth monetary reform, which means that Wang Mang tossed around and returned to the original point.

Third, the purchasing power of money Many economists evaluate Wang Mang. Secondly, the reason for the failure of monetary reform is the lack of effective understanding of the purchasing power of money. On the other hand, he tried to search for folk wealth, but every time he was caught by the people, he could not move. And the reason why he plundered wealth was to build an unprecedented empire. In other words, we are constantly waging wars and expanding our territory.