[A-List] RE: Some questions on money
soncu at pacbell.net
Tue Aug 17 22:13:13 MDT 2004
> As long as a state exists, its credit is
> limited only by the national wealth. If
> sovereign credit is used to increase national
> wealth, then sovereign credit is limitless as
> long as the growth of national wealth keeps pace
> with the growth of sovereign credit.
This is where I get confused:
Wealth, or value if you like, and money! Of course, Marxists think they know
what value is but I still have serious doubts about what it is.
Heat burns you so it is quite concrete in one sense but in another sense it
is quite abstract as energy is since heat is some form of energy.
And hotness is that abstract thing that is associated with heat. Yet,
although hotness may be unique, temperature, which measures hotness, is
completely arbitrary, as in hotness levels measured in Fahrenheit, Celsius
In my view, wealth and money are like hotness and temperature!
Given the arbitrariness of this measurement device, or money/credit if you
like, how do I ensure that growth of wealth (hotness) keeps pace with the
growth of sovereign credit (temperature)?
There are of course limits to this analogy:
Temperature is neutral whereas money is not!
Let me know what you think!
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