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Author Topic: What is Money?  (Read 2309 times)

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dalebert

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What is Money?
« on: October 16, 2012, 08:17:26 AM »

I tried to explain in layman's terms that even a liberal might understand why we can't just keep taking from the rich to provide for the poor. Probably failed but worth a try.

http://anarchyinyourhead.com/2012/10/15/what-is-money/

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I’ve often said you need to take money out of the picture to grasp certain economic concepts. It’s easy to get distracted by money. I’m going to explore how misunderstanding money can distort economic understanding and lead to some fallacious and ultimately harmful delusions. But first, what is money?

bobbysan

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Re: What is Money?
« Reply #1 on: October 16, 2012, 01:08:53 PM »

« Last Edit: October 16, 2012, 01:20:06 PM by bobbysan »
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dalebert

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Re: What is Money?
« Reply #3 on: October 16, 2012, 04:52:11 PM »

I like this description.

http://www.youtube.com/watch?v=iYZM58dulPE

OMG 42 mins! I was worried I was getting too wordy with my page-long article.

Actually, I think I may have seen that before and I and I'm sure it's an excellent education about the Federal Reserve, fractional reserve banking, etc. I was trying to talk about money in the broader sense of the word.

bobbysan

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Re: What is Money?
« Reply #4 on: October 16, 2012, 05:03:41 PM »


I'm sure it's an excellent education about the Federal Reserve, fractional reserve banking, etc. I was trying to talk about money in the broader sense of the word.


Yes, they do talk about money in the broader sense, as well. Essentially starting with barter, then into the necessity for a medium of exchange, which is really what money is. Of course, as the article you posted explains, today debt is money.
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Cognitive Dissident

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Re: What is Money?
« Reply #5 on: October 16, 2012, 07:01:08 PM »

In the broader sense, a commonly accepted medium of exchange.
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Turd Ferguson

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Re: What is Money?
« Reply #6 on: October 16, 2012, 09:38:24 PM »

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knutars

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Re: What is Money?
« Reply #7 on: October 18, 2012, 02:45:34 PM »

I tried to explain in layman's terms that even a liberal might understand why we can't just keep taking from the rich to provide for the poor.
I bought an excellent book to understand what we mean with "money" at http://www.positivemoney.org.uk/publications/. It states that long before coins or banknotes were minted/printed, there was a form of "money" in the form of bookkeeping records used by landowners in the ancient Egypt. Just saying.

You put it well when you state that if someone you know has broken a lot of promises in the past, their promise might be worth even less to you than a stranger’s. Bitcoin comes to mind immediately :-)
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dalebert

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Re: What is Money?
« Reply #8 on: October 18, 2012, 10:08:54 PM »

You put it well when you state that if someone you know has broken a lot of promises in the past, their promise might be worth even less to you than a stranger’s. Bitcoin comes to mind immediately :-)

You should post that in the comments. :)
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