Slog Comments
Money Without the State
3
Good Morning Charles,
That's an intriguing observation regarding money or currency in Somalia. Bizarre as it seems, what is happening there works albeit haphazardly. Could be that it is the "idea" of currency that has some value. I mean that literally. But, I'm not sure.
Still, Somalia is a wreck. It may devolve into a barter society before evolving back to a bank-based currency driven economy. Don't know. I only wish Somalis well. They are still going through hell.
That's an intriguing observation regarding money or currency in Somalia. Bizarre as it seems, what is happening there works albeit haphazardly. Could be that it is the "idea" of currency that has some value. I mean that literally. But, I'm not sure.
Still, Somalia is a wreck. It may devolve into a barter society before evolving back to a bank-based currency driven economy. Don't know. I only wish Somalis well. They are still going through hell.
6
think larger, Charles. I'd suggest that trade is the root of all human social relations. money is just a reasonably objective (not completely objective, though) representation of value that facilitates trade. (enter plug for free trade here).
7
http://en.wikipedia.org/wiki/Mohamed_Far…
http://en.wikipedia.org/wiki/Somalia
Somalia is "Tomorrow's just your future yesterday" of Iraq Afghanistan Libya Egypt Syria.
An experiment into making WWIII look tempting as All that sand has been blasted to the point its defenseless.
http://en.wikipedia.org/wiki/Somalia
Somalia is "Tomorrow's just your future yesterday" of Iraq Afghanistan Libya Egypt Syria.
An experiment into making WWIII look tempting as All that sand has been blasted to the point its defenseless.
8
#3
Yes, truly. Barter, sales, currency, retail...aren't these ultimately just communications devices?
I purchase a t-shirt that costs 20 times that of a white Hanes because it has a color and logo that I want to associate myself with.
I communicate with society that I am a person that can do that by showing the appropriate (valid) credit card.
At this abstract level, the need to pool or hoard money becomes less rational. Do I hoard spoken words...or radio? In some sense, yes. Mp3s.
9
@3: Interesting that you consider moving to a barter system as "devolving," while a currency-based system would be an evolution. Not trying to pick a fight, just thought it was interesting. Why wouldn't either change be an evolution? Do we regard currency as a more advanced, sophisticated form of exchange? Do we value debt-based exchange more highly than we do value-based exchange?
10
@1 That's a very glib truism that has sadly been shown to be false by history. World War 1 was one example of an extremely bloody war fought when armies followed goods across national boundaries.
11
@9pox,
Understand. I don't mean to use "evolve" or "devolve" as necessarily unequal terms. I'm all for a barter society but at this point in world civilization/history, hard currency backed by central banks/precious metals for goods and services is the way the world's economy operates. I see Somalia in an extended state of crisis. Maybe an economy based on barter would work in the short term for that small country.
I was just throwing out an observation that's all. Appreciate yours.
Understand. I don't mean to use "evolve" or "devolve" as necessarily unequal terms. I'm all for a barter society but at this point in world civilization/history, hard currency backed by central banks/precious metals for goods and services is the way the world's economy operates. I see Somalia in an extended state of crisis. Maybe an economy based on barter would work in the short term for that small country.
I was just throwing out an observation that's all. Appreciate yours.
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