[LMB] Money, Sharing Knife

WILLIAM A WENRICH wawenri at msn.com
Thu Nov 19 21:25:20 GMT 2020


People have been hawking gold and silver for years saying that it will never lose its value.
The value of precious metals depends on circumstances. Spain’s economy was hurt by the influx of gold from the Americas.
If all electronics was wiped out by EMP or a huge solar storm, could you even get to your safety deposit box?
The value of any currency depends upon people willing to accept it.
I do not have nor will I accept bit coin.



Christian, husband, father, granddaddy, son, American. Here I stand. I can do no other. God help me.
William A Wenrich
________________________________
From: Lois-Bujold <lois-bujold-bounces at lists.herald.co.uk> on behalf of Pouncer via Lois-Bujold <lois-bujold at lists.herald.co.uk>
Sent: Thursday, November 19, 2020 12:54:44 PM
To: lois-bujold at lists.herald.co.uk <lois-bujold at lists.herald.co.uk>
Subject: [LMB] Money, Sharing Knife

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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