ZBC#88 [Money is money cuz it’s money] ~ Money principle/貨幣論
Today, I’ll introduce Money principle[貨幣論] from Zenport Book Club#88 on Feb 3rd 2018.
Prof. Katsuto Iwai, the author of this book, argues that the reason why money exist is people believe it’s money.
In order to explain this theory, he refers the theory of Karl Marx.
How the idea is different from that of Karl Marx? And what is the crisis of Money?
Let’s get started.
Summary
- The reason why money has meaning is people believes in it has meaning.
- In the history, people have been discussed why money has meaning, they have found two answers. One is the legislation theory of money, and the other is commodity theory of money. However, both of them are wrong in the end, because the former one is based on circular reasoning, and the latter one cannot explain why a lot of money were not used even though these were defined as money by low.
- Marxist argues that deflation and depression were crucial moment for capitalism, but true crisis for capitalism is hyperinflation. It will disrupt the system where money has meaning, then destroy the capitalism itself.
Discussion
- In the near future, I’m thinking to provide payment function by our own token based on blockchain. In that case, how to manage the price is big issue. We need to avoid inflation and deflation, but I’m still not sure how to manage the price, if we don’t have central bank.I need to keep searching the way for that.
Conclusion
Today, I’ve introduced Money Principle, which describes the meaning of money and its true crisis.
Next, let me introduce War in Human Civilization [文明と戦争] from Zenport Book Club #89.
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