money
>I think that the chartalist idea makes a lot of sense. But the key issue is whether or not the money is scarce.< JD Taxation creates the demand for money in this argument. It also makes sure the money is scarce by removing it from the economy. Government spending supplies the money in the first place. Jim is right this all depends on the effective power of the state. This is an alternative to the standard origin story where a universal commodity intermediates what used to be barter. The market does not generate its own currency initially and consequently monetary economies are intimately imbricated with the state from their origin. Terry ^^^^ CB: This reminds of the dispute of whether writing originated ( in ancient Mesopotamia) in commerce/commodity exchange or in state taxation. Were the "wedge forms" calculations for old contracts or old tax bills ? Michael P said the latter. I said the former. ( smile). Does the superstructure of writing start in economics or politics ? Or was the origin of writing a form of money, even ? Probably yes to that. This message has been scanned for malware by SurfControl plc. www.surfcontrol.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
