[lbo-talk] The State and Capitalism

Mike Ballard swillsqueal at yahoo.com.au
Sun Mar 16 22:30:48 PDT 2008

Dmytri wrote:

To me, money is is simply the memory of an economic exchange, no matter how it manifests.

I don't believe that the problem with actually existing money is the fact that it circulates, as I and others have said, specialization of labour implies exchange. Rather the problem is a matter of limited circulation and supply, and rents resulting from the resulting scarcity, which some models of alternative currency could alleviate, i.e. RipplePay.

Money is only a problem because too few people have it, IMO

This, in my view, has more to do with distribution of productive assets, then any intrinsic feature of Money.

>From what you and others have quoted, Marx seems to agree, he just
wouldn't call alternative or community currencies "money."


Money becomes capital when it is used to buy wage-labour to make commodities for sale. This is how too few people have most of the representations of wealth i.e. money and how money becomes the social relationship known as Capital. Alternative currencies could become Capital too, depends on the social relation between an employing class with their employees....iow, workers having to sell their labour time and skills to the employing class in order to make wages for a living in exchange for giving over ownership and control of their product to their employers.

Mike B)

http://www.iww.org.au/node/10 "Would you have freedom from wage-slavery.." Joe Hill http://www.iww.org/en/join

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