tag:blogger.com,1999:blog-319255270410241154.post7067458388974980653..comments2023-05-26T09:49:55.091-04:00Comments on Idling, Inc: Money is a unit of measurementIdlerhttp://www.blogger.com/profile/13812152678557636207noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-319255270410241154.post-89568137454245025202008-09-07T01:16:00.000-04:002008-09-07T01:16:00.000-04:00There's an article on money at the Mises.org here....There's an article on money at the Mises.org <A HREF="http://mises.org/story/2882" REL="nofollow">here</A>.<BR/><BR/>It is a good background piece. Once again, I am not in favor of gold any more than I am in favor of paper money.Atanu Deyhttps://www.blogger.com/profile/17966939272970135374noreply@blogger.comtag:blogger.com,1999:blog-319255270410241154.post-58587447067637733122008-09-07T01:14:00.000-04:002008-09-07T01:14:00.000-04:00Money is instrumental in measuring some quantity, ...Money is instrumental in measuring some quantity, of course. It is an abstraction and the actual instantiation of that abstraction can be varied. In the past, all sorts of things have been money. Gold is only one of those. But as humans get more sophisticated in their ability to represent abstract quantities, how we represent money will also change. <BR/><BR/>From shells to gold to paper money is a progression -- not necessarily liked by everyone and not immune to abuse. Now you can account for all trade digitally. Not even paper need be involved. This is also not immune to abuse. It could lead to even greater inflation than paper (which itself is more "inflatable" than gold.)<BR/><BR/>But here's the thing. Nothing is immune to inflation. Even gold. Let's say that all our money was backed by gold. Imagine if someone were to discover a mountain sized piece of gold under their farm. Suddenly the guy will be fabulously wealthy. How? Because his find would add additional gold-backed money -- and since nothing in the economy has changed (no new products and services, expect a huge amount of gold), the price of goods relative to the price of gold will go up. That inflation will result from the discovery of gold -- which is exactly the same as the inflation that government does and steals stuff.<BR/><BR/>For my money (if you pardon the expression), I would rather have straight accounting. It is possible now. We have the means, the technology to keep track of stuff. Let's do away with this government control of money.Atanu Deyhttps://www.blogger.com/profile/17966939272970135374noreply@blogger.comtag:blogger.com,1999:blog-319255270410241154.post-77205380104150266172008-09-05T20:02:00.000-04:002008-09-05T20:02:00.000-04:00Originally commented at:Can Money Simply Disappear...Originally commented at:<BR/><BR/>Can Money Simply Disappear?<BR/><BR/>http://www.deeshaa.org/2008/01/31/can-money-simply-disappear/<BR/><BR/>I’ve revised my opinion after some deep thought about my last comment. Money is indeed illusory/maya/mithya. I am now an enlightened being. Fortunately, being the kind person that I am, I am willing to help you with your illusion. Sell of all your assets, send me a check for the same and you will be rid of the illusion.Idlerhttps://www.blogger.com/profile/13812152678557636207noreply@blogger.com