An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
"Nomisma by itself is a mere device which has value only by nomos (law) and not by nature; so that a change of convention between those who use it, is sufficient to deprive it of value and its power to satisfy our wants." — Aristotle, "Politica."
"By virtue of voluntary convention nomisma has become the medium of exchange. We call it nomisma, because its efficacy is due not to nature but to nomos (law), and because it is always in our power to control it." — Aristotle, " Ethica."
If you can see what I mean; does any of this need further discussion????
Is not Aristotle simply TELLING US WHAT THEY (really 'WE' imo) DID?
Is this not "end of story"?
Do you see what I mean???
I dont know why anyone would read a book on the origins/history of "money" that didnt have the Greek word 'nomisma' in it?????
LK references an article from 'The Economist' here:
ReplyDelete"MONEY is perhaps the most basic building-block in economics. It helps states collect taxes to fund public goods..."
THE FIRST LINE IN THE ARTICLE.
Read no further this person is a MORON... you will learn NOTHING from this person.
This person does not even have the logical mental capacity of a pre-school child.
100% GARBAGE. 'The Economist' is disgraced.
rsp,
Yeah, that's what I said when I linked to it here a few days ago.
ReplyDeleteTom,
ReplyDeleteThis from Aristotle what.... 2,500 years ago?:
"Nomisma by itself is a mere device which has value only by nomos (law) and not by nature; so that a change of convention between those who use it, is sufficient to deprive it of value and its power to satisfy our wants." — Aristotle, "Politica."
"By virtue of voluntary convention nomisma has become the medium of exchange. We call it nomisma, because its efficacy is due not to nature but to nomos (law), and because it is always in our power to control it." — Aristotle, " Ethica."
If you can see what I mean; does any of this need further discussion????
Is not Aristotle simply TELLING US WHAT THEY (really 'WE' imo) DID?
Is this not "end of story"?
Do you see what I mean???
I dont know why anyone would read a book on the origins/history of "money" that didnt have the Greek word 'nomisma' in it?????
rsp,