[LMB] OT: money

Damien Sullivan phoenix at mindstalk.net
Thu Nov 19 19:27:50 GMT 2020


On Thu, Nov 19, 2020 at 03:32:21PM +0000, Richard G. Molpus wrote:
>  Currency' is the tokens that represent 'Money'; 'Money' being the wealth collectivly owned by the members of a society.

I would rather that money represents a potential claim on wealth.  The
total wealth owned by society includes land, buildings, factories, IP
right, livestock.  Productive assets.  At its core, money is a way of
trading goods and assets, not wealth in itself.  With interest, money
becomes a form of wealth too, but money is not synonymous with all
wealth.  If dollars -- physical or virtual -- became useless, land and
buildings would still have value.

-xx- Damien X-)


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