3 ms·
Money is just a representation of the debt incurred in a "gift" economy (a "debt" economy would be a better term for it) and allows the extension of those pract
by pharke 7y ago
Money is just a representation of the debt incurred in a "gift" economy (a "debt" economy would be a better term for it) and allows the extension of those practices to strangers or people you don't trust or can't have some influence over. Gift economies still exist today in Western countries, often in rural areas among neighbors where you will do a favor, help out, or lend an item in exchange for likewise help at a later date. This works well in small groups that know each other well but breaks down when it becomes hard to track who did what for whom. Hence the invention of a tally system like money.