[LMB] Money, Sharing Knife

Pouncer pouncer at aol.com
Thu Nov 19 19:54:44 GMT 2020


Damien

 > 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.

A deferred half-trade, to be precise.  A full trade exchanges
stuff. A deferred trade exchanges Wimpy's (glad) promise of
exchange next Tuesday for Bluto's hamburger today.  A HALF-trade
is an exchange of stuff for some form of marker, an I.O.U.
And a deferred half-trade is the redemption of the marker
today for new stuff. The marker may be somebody else's I.O.U.

And, "stuff" may be other than physical stuff. Berry's music
is offered up (as a public, non-severable, good) and
some listeners toss her coins. The Lakewalker patrols
are public goods -- everyone, Lakewalker and Farmer alike,
benefits whether or not Inn Keepers or blacksmiths chip in

to support the mission. Music, transport, and public goods represent

tough problems for definitions of value depending on physical assets.


The entire _TSK_ series presents, er, "valuable" examples of
situations to be discussed regarding money, wealth, value,
and trade.




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