Wednesday, June 20, 2012
James Surowiecki — A Brief History of Money
Hap tip to Micheal Boudreaux in the comments, who says, "I just came across an article in IEEE Spectrum magazine (Electrical Engineers) that gets a lot of stuff right or pretty close. It quotes Graeber, talks about the neoclassical fascination with scarcity and notes that gold standard was such because it was declared to be, much like our current fiat paper. Wiki claims 380K readership for the magazine. The article is not perfect, but better then most. IT seems to me that Engineers (like me) catch on to MMT and closed systems more easily then many."
Read it at IEEE Spectrum
A Brief History of Money
Or, how we learned to stop worrying and embrace the abstraction
by James Surowiecki
James Surowiecki writes The Financial Page at The New Yorker.