>Chai-on:
>--------
The labor theory of value must explain how and why the value
represent itself as another, which is the
>core of the transformation problem. IMO, money is also a
commodity and the sole difference between money and any other
ordinary commodity is in its functions as the general
equivalence. I would like to continue the discussion on the nature of money.
Paul
----
At certain times some commodities have functioned as money,
but money is not a commodity. The monetary function is one
of recording social power - the power to command the labour
of others. What is required for this is a method of recording
information, and a method of constraining transitions between
information states. Commodities are just one way of doing it.
Paul Cockshott
wpc@cs.strath.ac.uk
http://www.cs.strath.ac.uk/CS/Biog/wpc/index.html