Peer2Politics

Money is, and always has been, a “creature of the state”, and currency has always been a state token. Precious metal coins merely represent one kind of state token, and their origins can be traced to the specific social upheaval that took place at the end of the 7th century B.C. This is an important, fascinating, book that should not be ignored by any monetary theorist.

“Thus the logic behind money pretty clearly isn’t what the textbook story claims it is. That doesn’t mean that there’s no logic to it at all; what it means is that nobody wants to talk about what it is that money is actually meant to do. Fortunately, we’ve discussed the relevant issues in last week’s post, so I can sum up the matter here in a single sentence: the point of money is that it makes intermediation easy.

Dogecoin-mania continues unabated. The following short article, reposted from Ihavebitcoins.com, argues that it could lead to a surge in the gift economy. Read on…