Re: [Pen-l] money

["Jim Devine" <jdevine03@xxxxxxxxx>]

Terry McDonough wrote:
>  This is an alternative to the standard origin story where a universal commodity intermediates what used to be barter.  The market does not generate its own currency initially and consequently monetary economies are intimately imbricated with the state from their origin.<

the whole idea of regular barter being used in social exchanges seems
silly. I think that instead of standard market exchanges, Karl Polanyi
was right: reciprocity and redistribution were the main ways of
organizing "exchange" before the rise of money and markets. The former
splits into two types:

a) balanced reciprocity (I'll scratch your back if you scratch mine.)
b) generalized reciprocity is the same as virtually uninhibited sharing.


-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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