John Michael Greer — Dark Age America: The Hoard of the Nibelungs

John Michael Greer tackles money and the dark side of chartal.

Money is a system of arbitrary tokens used to facilitate exchange, but it’s also a good deal more than that. It’s the framework of laws, institutions, and power relationships that creates the tokens, defines their official value, and mandates that they be used for certain classes of economic exchange. Once the use of money is required for any purpose, the people who control the framework—whether those people are government officials, bankers, or what have you—get to decide the terms on which everyone else gets access to money, which amounts to effective control over everyone else. That is to say, they become the primary intermediaries, and every other intermediation depends on them and the money system they control.

This is why, to cite only one example, British colonial administrators in Africa imposed a house tax on the native population, even though the cost of administering and collecting the tax was more than the revenue the tax brought in. By requiring the tax to be paid in money rather than in kind, the colonial government forced the natives to participate in the money economy, on terms that were of course set by the colonial administration and British business interests. The money economy is the basis on which nearly all other forms of intermediation rest, and forcing the native peoples to work for money instead of allowing them to meet their economic needs in some less easily exploited fashion was an essential part of the mechanism that pumped wealth out of the colonies for Britain’s benefit.

Watch the way that the money economy has insinuated itself into every dimension of modern life in an industrial society and you’ve got a ringside seat from which to observe the metastasis of intermediation in recent decades. Where money goes, intermediation follows: that’s one of the unmentionable realities of political economy, the science that Adam Smith actually founded, but was gutted, stuffed, and mounted on the wall—turned, that is, into the contemporary pseudoscience of economics—once it became painfully clear just what kind of trouble got stirred up when people got to talking about the implications of the links between political power and economic wealth.

There’s another side to the metastasis just mentioned, though, and it has to do with the habits of thought that the money economy both requires and reinforces. At the heart of the entire system of money is the concept of abstract value, the idea that goods and services share a common, objective attribute called “value” that can be gauged according to the one-dimensional measurement of price.

It’s an astonishingly complex concept, and so needs unpacking here….

The Archdruid Report
Dark Age America: The Hoard of the Nibelungs
John Michael Greer

Wisdom or Magical Thinking?

There are heterodox economists and there are heterodox heterodox economists. John Michael Greer belongs in the later category. He has just put up a post that is fun and interesting if you are into philosophical wonkiness. (Probably not for everybody.) But his conclusion is something we all need to be thinking about:

Thus we’ve arrived as a society, and at a very late stage in the game, at the same point that classical philosophy reached after the execution of Socrates, when it became uncomfortably clear that having a small minority of people passionately interested in asking and answering the right questions was no guarantee against catastrophic levels of collective stupidity.

The Neoplatonist answer was a personal answer, the development of a toolkit to make clear thinking and decisive action possible for anyone with the self-discipline, patience, and persistence to put the tools to work, and it’s as valid an approach now as it was in the days of Iamblichus—though it’s only fair to say that there are other ways of getting to the same place, some similar, some very different.

The question that comes to many minds these days, though, is whether something similar can be done on the large scale—whether, to be precise, it’s possible to banish enough baboonery from our collective conversation about the future that we as a society can confront the real sources of our problems and do what has to be done. We’ll talk about that next week.

Read the whole post at The Archdruid Report: Druid perspectives on nature, culture, and the future of industrial society, A Preparation for Philosophy by John Michael Greer. Greer is the Grand Archdruid of the Ancient Order of Druids in America and the author of more than twenty books on a wide range of subjects, including The Long Descent: A User's Guide to the End of the Industrial Age, The Ecotechnic Future: Exploring a Post-Peak World, and the forthcoming The Wealth of Nature: Economics As If Survival Mattered.

Can we scale up wisdom necessary for survival in a fast-changing environment that requires increasing our adaptability rate and coordination in order to keep up with the pace of change?