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How does that prove money is an emergent phenomenon of markets? In fact, that article suggests exactly what the historical evidence suggests: markets cannot re
by betterunix2 9y ago
How does that prove money is an emergent phenomenon of markets? In fact, that article suggests exactly what the historical evidence suggests: markets cannot really exist without money. Societies without money tend to only engage in trade with strangers, rather than having markets:
https://monoskop.org/images/3/36/Graeber_David_Toward_an_Anthropological_Theory_of_Value.pdf https://monoskop.org/images/3/36/Graeber_David_Toward_an_Ant...
- nerflad 9y agoIt can't prove it any better than than anything else can bridge the is-ought gap. I agree that markets can't exist without money, but I think historical evidence suggests that they will create money in order to exist. Almost every society in human history has developed a monetary system; either one based around a commodity as simple as camels, bullion or sea shells, or backed by fiat.
- betterunix2 9y agoWell, the same author from the link I gave happens to have also written a book on that very topic that you might find interesting: https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years
- nerflad 9y agoI'll check it out. Thank you.
- Retric 9y agoFor an example of money showing up in Barter systems look at diablo 2's use of stone of Jordon's as a proxy for money.