The foundations of money seem to be things that were originally the most appropriate things to sacrifice to the gods.If you could create or do something of value that the army would pay you for, all of a sudden you’ve created a vast machine to create valuable goods and sustain your army Markets and taxation seem to have sprung up from the need to support large armies.
If Adam Smith was right and there was profit to be had, these markets would spring up spontaneously Governments spend a lot of their time and focus trying to create a market where one currently doesn’t exist. This contradicts what Adam Smith and many modern economist say. Unlike commonly thought, markets do not spring forth before governments, but the opposite.The form the currency takes hardly matters as long as people trust it except it as an IOU and the government excepts it as a form of taxation can be considered currency Does not measure the value of the object as much as it does the trust that we have another human beings. It allows various people institutions and others who want to trade to be able to do so with less friction, come to a mutual agreement as to what constitutes a fair trade. If money is simply a yardstick what does it measure? Debt.This is widely believed, but nobody has been able to prove that this in fact was the system used by any large and thriving group of people The author dispels the notion that a barter society was the foundation of money.Converting human relations into mathematical numbers underlies much of the problems but are dealing with today Specific amounts owed is linked inherently to violence as it is now easy to see what is expected and rightfully owed to someone else. This ability has allowed for specific quantification of what is owed. This book will discuss at length money‘s capacity to turn moral obligations into simple arithmetic. In this sense, obligations are also thought of as debt. Interesting that it seems to be a universal that humans feel a moral duty to repay any loans made.To argue with the king, you must use the king’s language.
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