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View Diary: Anti-Capitalist Meetup: Money and Magic Beans (46 comments)

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  •  This is very interesting ... (9+ / 0-)

    I also think you are making an excellent point on the fact that money as a medium of exchange is coming into contradiction with money in its role as capital (which is only important in its role of making more money). I also appreciate the clear exposition; when I went to look this up when you had mentioned what you wanted to write on, I honestly could not understand anything of what was there.

    This IS clear and I really appreciate your explaining it to me as if there is one thing I am not really clear on in economics, it is money. I understand the functions, I understand the idea of a universal equivalent; what I have trouble understanding is how these things interact and how a scrip which is not linked to any form of value can function. This is what you have explained to me and I am grateful!! Thanks, well done!

    "Hegel noticed somewhere that all great world history facts and people so to speak twice occur. He forgot to add: the one time as tragedy, the other time as farce" Karl Marx, The Eighteenth Brumaire of Louis Bonaparte .

    by NY brit expat on Sun May 19, 2013 at 03:41:13 PM PDT

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