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Demurrage is an evil concept. When you steal the time value saved of a man’s labor, you rob him of his future. There is no reason the unit of account should cha
by randomhodler84 5y ago
Demurrage is an evil concept. When you steal the time value saved of a man’s labor, you rob him of his future. There is no reason the unit of account should change day to day or year to year. Saving is good. For most of human history things were relatively stable, we didn’t need these games to amplify, leverage and drain.
- Ericson2314 5y agoWell find, then I counter "store of value" is a largely evil concept :D. Unit of account != store of value.
- Ericson2314 5y agoAlso read some Graeber on debt. Even when materially society seemed pretty stable, financially things were more complex, hence the debt jubilees and whatnot. Demurrage is nothing but a continuous debt jubilee.
- imtringued 5y agoDemurrage prevents the unit of account from changing precisely because the real world is an endless chain of growth and decay. Money that doesn't die akin to an immortal cancer that spreads until the host dies. By the way, demurrage has been implemented by ancient egypt and in medieval times and in wörgl and it has brought more prosperity to everyone not less. The masons that built the cathedrals had much shorter work weeks than us.