Re: "Hatred" of money

[larson@xxxxxxxxxxx (S R Larsson)]

>> S R Larsson before:
>> Again, I think there is a great deal of sense in your argument provided it
>> remains on the logical level; logic and philosophy are, as we all know,
>> purely analytical disciplines with no interest in verifying their
>> propositions empirically. However, in a real-world context I think it is
>> difficult to give concrete meaning to your claim that people hate people
>> because - somehow - they are not allowed to hate money. To me, money hatred
>> would have to include:
>>
>> 1. hatred of liquidity, which certainly would mean that we would hate the
>> opportunity to re-make our consumption plans at short notice, as well as
>> the opportunity to anticipate contingencies;
>

Harry Veeder:
>The problem is the money system inhibits our opportunity to re-make our
>consumption plans at short notice. ( The money system helps to structure or
>"plan" the economy.) Because of the rules governing the money system,
>some consumption plans can be satisfied while others cannot. So a hatred
>of liquidity translates into a hatred of those consumption plans which
>can be satisfied.

Could you please give some examples to beck this up? I can't see in what
consumption situations you would be unable to pay with money, but have the
opportunity instead to engage in pure barter.

S R Larsson before:
>> 2. hatred of wealth, which also speaks against both common sense and other
>> logical parts of economic science.
>>
>> So far I still disagree.
>

Harry Veeder:
>I don't think it necessary that a "hatred of money" of money need imply
>a hatred wealth. It is really about the hatred or strong dislike
>for some consumption plans which are favoured because of liquidity
>preference. I regard (monetary) income to be a form of consumption and is
>therefore also one of the possible consumption plans of an individual.

Interesting definition of consumption. Could you explore it further?

>Everyone likes to see their personal consumption plans fufilled in
>addition to be able to reject consumption plans which they see as
>undesirbale. (eg. prostitution in the most general sense of the word.) In
>other words we like to occupy oursleves as we see fit. Unless people are
>given the tools to satisfy their own consumption plans, rejection of
>undesirable plans or liquidity will gradually become hatred for people.

I honestly don't understand this point.

>An important tool would be the lawful ability to create money
>in situations where an individuals plans serioulsy conflicted with liquidity
>preference, ie. the plan to earn money.

I think you've misunderstood the concept of liquidity preference in
keynesian theory. An indivudal's plans for consumption cannot really
conflict with her liquidity preference - we abstain from consumption and
hold liquidity because we feel more secure with that choice. To quote Paul
Davidson: He who hesitates is saved to make a decision another day.


-----
Sven Robert Larsson
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