> _______________________________________________ > > This seems a fallback to the economics 101 You're giving too much credit to econ 101. The latter still seeks and, if it cannot find, makes up "determinants" on the supply side; as without those, economics is lost. (e.g.) Money "is" a store of value, paradoxes be damned. --------------------------------------- My objection was to the idea of applying supply and demand to money which is a structure to which neither applies. It was the notions of supply and demand that I meant were an appeal to economics 101 Supply and demand are abstractions from the real process of production and consumption of material goods. Money is a data structure which records information and the application of metaphors from material production and consumption gets you, in my opinion, nowhere in attempting to understand the laws governing such data structures. ------------------------------------------------------------
> The currency has no price, but is the measure of price, the problem is to > explain how a standard of price and measure of value which itself has no > value can operate as a social form. Get over it, there is no problem. People have found out since time immemorial that keeping track of input, works in claiming output. ============================ I dont see how this even approaches addressing the problem of what determines the value of state token money. What is the input that is kept track of to claim output in this case? ========================== . Don't you think it's high time that a truly alternate paradigm becomes developed anyway? --------------------------------------------- Indeed and that is what I attempt to work on. The University of Glasgow, charity number SC004401 _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
