...as far as the public is concerned their bank balances are "money." So let us define "money" as "assignable/transferable debt." Scientifically it works; other definitions do not seem to me to be any real use.
Geoffrey Gardiner
You have declined to answer this question before: In the era of "free coinage" it was possible to take any quantity of bullion to the mint and it would be coined into money. The mint would keep a percentage as its fee for the service rendered. How can such coins be considered debt instruments?
This, I think, is but one specific example of money that is something other than debt. There are several others I could list.
It is not scientific to let definitions confine our reasoning. They are simply a category of tools utilized in the method of science, to be modified or discarding along the way if they become impediments rather than aids to understanding. I think your arbitrary definition--which excludes ipso facto the existence or necessity of other forms of money--might be one such impediment.
- Re: Anti-EU demonstration in Sweden, (continued)
- Re: Anti-EU demonstration in Sweden, J. Barkley Rosser, Jr. Tue 01 May 2001, 21:55 GMT
- Re: Anti-EU demonstration in Sweden, Sven R Larson Tue 01 May 2001, 12:35 GMT
- Re: Anti-EU demonstration in Sweden, J. Barkley Rosser, Jr. Tue 01 May 2001, 11:11 GMT
- Re: Anti-EU demonstration in Sweden, Hugh Whinfrey Tue 01 May 2001, 09:56 GMT
- Re: Creditary Economics (CE), William B. Ryan Tue 01 May 2001, 07:04 GMT
- A public letter to a learned friend., Domainmail Tue 01 May 2001, 20:16 GMT
- Re: A public letter to a learned friend., W. Curtiss Priest Thu 03 May 2001, 00:34 GMT
- Re: A public letter to a learned friend., Mason Clark Thu 03 May 2001, 18:20 GMT
- Re: Creditary Economics (CE), Basil Moore Mon 14 May 2001, 22:18 GMT