Saturday, February 11, 2012
Monetarist Lunacy vs. Physical Economy
Money does not and can ultimately never equal the production of goods and services which benefits society. Although money is a claim upon these benefits. The proper role of money is to facilitate increasing the productive power of society to sustain itself at ever higher standards of living. When this function is subverted crises result, such as the one we are currently experiencing. What is described here has nothing to do with bettering humanity, precisely the opposite. These types of detrimental gambling games should be abolished just as were the "bucket shops" of yesteryear. Anyone who would argue otherwise is either a fool or charlatan.
Posted by Thingumbobesquire at 10:23 AM
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