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>The distinction between what is presented as a thought experiment and what is supposedly claimed as historical fact is most definitely material. A) it's been
by pydry 5y ago
>The distinction between what is presented as a thought experiment and what is supposedly claimed as historical fact is most definitely material.
A) it's been presented as both. The example you pointedly ignored that I posted above is one such example.
B) It's not really that material. The story serves the same purpose either way - both in the above example and in, say, Stiglitz.
>it's necessary to clarify what the myth actually is and why it supposedly is so important for capitalism.
It is which is why Graeber did explain why it's important.
I thought you read the book?
>In a deleted comment you claimed you read it in Mankiw.
After writing that comment I double checked the 8th edition of the text to see if i remembered correctly and ctrl-f and found zero about barter in the whole book so I guess we both misremembered.
I cant honestly remember which econ textbook I read it in since it was 16 years ago, but I do know that I read it and believed it and there are plenty of other examples that can be found via google, so whatever.
- unmole 5y ago> The example you pointedly ignored that I posted above is one such example. Nobody thinks this is the mainstream consensus view, not even Graeber. > The story serves the same purpose either way > It is which is why Graeber did explain why it's important. The whole thread is about why Graber's just-so explanations are wrong. And your arguments are materially different from what is actually in the text. > I guess we both misremembered. From The Principles of Macroeconomics, 3rd Edition. Chapter 15 - The Monetary System > The social custom of using money for transactions is extraordinarily useful in a large, complex society. Imagine, for a moment, that there was no item in the economy widely accepted in exchange for goods and services.