[ show plain text ]
Dear coleagues
I sent this message twenty days ago to the list, but, I made a mistake
and it went only to the e-mail of Michael Williams. Only today I took
account of this. So, I'm sending it again.
Isent this message
paulani gravada:
> I have followed the discussion on the question if gold is or is not (or better,
> works or doesn't work) as money. I entirely agree with the opinion of Michael
> Williams. It is because of the fact that both Money and Value have only a
> social existence that doesn´t matter what is the vehicle that is supporting
> Value in its fundamental form, i.e., in the form of Money. Furthermore, I think
> that in this historical movement of Money, following the way of a progressive
> loss of materiality, Money is in fact becoming actual the features that logically
> constitutes it. Using the words of Marx, it is possible to say that it is only
> now, when the world money is a green paper with no link with a "true thing",
> that money has found a form of existence adequated to its notion (in the hegelian meaning of the term). Not to see
> this seems to me a kind of fetichism.
>
> In solidarity
>
> Leda Paulani
>
> Economics Department, University of São Paulo, Brazil
>
> Michael J Williams gravada:
>
> > ----- Original Message -----
> > From: C. J. Arthur <cjarthur@pavilion.co.uk>
> > To: <ope-l@galaxy.csuchico.edu>
> > Sent: Tuesday, January 11, 2000 9:32 PM
> > Subject: [OPE-L:2093] re: The Money Supply
> >
> > > Paper 'flies' only because it is supported by a social vote
> > > of confidence.
> >
> > So does gold. It would cease to function as Money if it was no longer
> > socially recognised as such.
> > Remove that and its (function as a store of) value goes into free fall.
> >
> > > But I do not see how inconvertible paper can measure value since there is
> > a
> > > hiatus between them. Such paper is 'weightless'.
> > >
> >
> > There is no hiatus between Money and Value, rather there is a systemic
> > interconnection. That is as true of the relvant connection of gold-Money and
> > Value as it is for paper-Money and Value. The point is that both Money and
> > Value have only a social existence.
> >
> > Michael
> > ____________________
> > Dr Michael Williams
> > Economics and Social Sciences
> > De Montfort University
> > Milton Keynes
> > UK
> > fax: 0870 133 1147
> > http://www.mk.dmu.ac.uk/~mwilliam
> > [This message may be in html, and any attachments may be in MSWord 97. If
> > you have difficulty reading either, please let me know.]
This archive was generated by hypermail 2b29 : Fri Apr 21 2000 - 09:47:45 EDT