The Abstract notions of money, trade, exchange and market economics
Money is nothing more than a term which represents an abstract form of exchange of labour for purchasing power. This article will not investigate interest, loans, debt or the creation of money.
For in reality money could be gold, silver, match sticks or pine nuts. Here we will concentrate on the direct result of defining a value to labour to use in exchange for purchasing power.
While it may be offered that the abstraction (money) simply allows for delayed trade to take place, such as;
Human x has some chocolate.
Human y wants some chocolate and has a chicken farm but at the time has no eggs to trade.
So human y offers an abstraction so that s/he can have some chocolate and when eggs are available human x can trade in the accepted abstraction in return for some eggs.
What we are actually seeing here is little more than…
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