[lbo-talk] Fantasy of ‘apolitical’ money

[Wojtek S]

The Crash of 2008 has infused our societies with enormous scepticism on the
role of the authorities, both government and Central Banks. It is quite
natural that many dream of a currency that politicians, bankers and central
bankers cannot manipulate; a currency of the people by the people for the
people. Bitcoin has emerged as the great white hope of something of the
sort. Alas, the hope it brings to many people’s hearts and minds is false.
And the reason is simple: While it is true that local communities have, in
the past, generated successful communitarian currencies (that enabled them
to improve welfare in their midst, especially at a time of acute economic
crises), *there can be no de-politicised currency capable of ‘powering’ an
advanced, industrial society*.

http://yanisvaroufakis.eu/2013/04/22/bitcoin-and-the-dangerous-fantasy-of-apolitical-money/

-- 
Wojtek

"An anarchist is a neoliberal without money."