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How the 'Functions of Money' Blind Us to the Structure of Money
- Proven 6y ago> but they only work because they’re integrated into a huge system that activates them. Gold isn't activated by the system, and that's why it's money. Fiat currencies need a system. Gold's structure can be coins, bars of various sizes. What's common to them they're money (the thing with which you measure the worth of other things).
- htnsao 6y agoCliffhanger. His unfinished concept of comparing money to a chair leaves readers "confused, disoriented and exploitable" enough to pitch his newsletter signup at the end. What is he selling? Just spit it out already.
- clejack 6y ago"From false premises, anything follows" "Money too has a structure..." - Brett Scott Hear I'm focusing on this undefined, elusive structure that Brett keeps alluding to. Not the superficial description of paper currency or coinage. Being honest, I hardly see a difference from a superficial description of an object and the author's use of structure, but I'll ignore that for now. What is the structure of love? Of wisdom? Of pride, anger, hatred, or even better, of value? The reason people/economist focus on the function of money is because that's a wise thing to do given it's immaterial source. Money, is a manifestation of the idea of value. The fact that people conceptually struggle with it is no more significant than the fact that people struggle with calculus.