[LMB] OT: money
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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