2 ms·
Money provides a claim on future labor. Having more of it in fewer hands leads to worse decisions for the human race. If I acquire all of the dollars in a rur
by phaedrus 7y ago
Money provides a claim on future labor. Having more of it in fewer hands leads to worse decisions for the human race. If I acquire all of the dollars in a rural economy and use them to cause a giant statue of myself made of butter to be erected, after the statue melts I have no money and no statue. The community has the dollars again, but they do not have the butter that was wasted (or the labor time which was wasted).