Great comparison and all fair points. The arguments and explanations of Smith and Jevons certainly have some validity yet seem limited regarding causality. A key factor is the network of close associates compared to an economic situation of exchange on a geographically wider scale, which also comes with greater specialization - division of labor. Factoring in such additional factors of development like increasing ‚mobility‘ might lead to the need of reformulating the question of the chain of causality of the introduction of money - was that solely a requirement of circumventing the obvious limitations of direct barter or was the genesis of money driven by both increasing specialization and expansion of communities through mobility and the reciprocity between those two factors - divison of labor and evolution of markets through extended expansion and increasing demand, which in turn would have multiplied the limitations of direct barter
The basic point is that Smith and Jevons simply assume that markets exist prior to money, and that the market drew money into being to unclog itself (and they also see money as being like a special commodity *within* a market). The opposite pole is to see money as preceding (large-scale) markets, such that money brings markets to life (in much the same way that cars bring modern Los Angeles to life), and to see that money *underpins* markets, and is inseparable from them, rather than being a separable commodity traded within them. The middle position is to see these two poles as co-evolving
Christopher Ryan writes about the "Flintstonization" of history in "Sex at Dawn."
Interesting. I'll check it out!
Another source of excellent archeological understanding of the history, purpose and operations of money is Michael Hudson.
Definitely!
Very good!
Glad you like it Lars
Great comparison and all fair points. The arguments and explanations of Smith and Jevons certainly have some validity yet seem limited regarding causality. A key factor is the network of close associates compared to an economic situation of exchange on a geographically wider scale, which also comes with greater specialization - division of labor. Factoring in such additional factors of development like increasing ‚mobility‘ might lead to the need of reformulating the question of the chain of causality of the introduction of money - was that solely a requirement of circumventing the obvious limitations of direct barter or was the genesis of money driven by both increasing specialization and expansion of communities through mobility and the reciprocity between those two factors - divison of labor and evolution of markets through extended expansion and increasing demand, which in turn would have multiplied the limitations of direct barter
The basic point is that Smith and Jevons simply assume that markets exist prior to money, and that the market drew money into being to unclog itself (and they also see money as being like a special commodity *within* a market). The opposite pole is to see money as preceding (large-scale) markets, such that money brings markets to life (in much the same way that cars bring modern Los Angeles to life), and to see that money *underpins* markets, and is inseparable from them, rather than being a separable commodity traded within them. The middle position is to see these two poles as co-evolving
Let's get rid of money . . . . . . . . . . good idea?.
Well, probably worth developing another system before doing that! Ha ha
on to it . . . . www.moneyfreeparty.uk I wonder, have you thought this far ahead?
I'll take a look, thanks Simon