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<p>[QUOTE="kaparthy, post: 3718747, member: 57463"]Other possibilities exist. Going back to the origins of money and to its long history, money is essentially a debt and the medium of ritual gift exchange. That was why I cited Graebner: no society ever went from barter to money; barter is what happens when money fails. What we see as the exchange of things - potatoes for clams - is the exchange of gifts. They need not be of equal "value" (in units of account) but represent appropriate recognition of social status.</p><p><br /></p><p>At a Libetarian Party convention, I "bought" a six-pack of homemade beer for a one-ounce silver bar. They were about equal in value but no one was counting the difference. The exchange felt right. It was a social interaction. </p><p><br /></p><p>Precise economic calculation is a <b>consequence</b> of a monetized society. It is wonderful. Profit pushes the grave farther away. Money can just as much be a matter of social gifting. The Japanese do it.[/QUOTE]</p><p><br /></p>
[QUOTE="kaparthy, post: 3718747, member: 57463"]Other possibilities exist. Going back to the origins of money and to its long history, money is essentially a debt and the medium of ritual gift exchange. That was why I cited Graebner: no society ever went from barter to money; barter is what happens when money fails. What we see as the exchange of things - potatoes for clams - is the exchange of gifts. They need not be of equal "value" (in units of account) but represent appropriate recognition of social status. At a Libetarian Party convention, I "bought" a six-pack of homemade beer for a one-ounce silver bar. They were about equal in value but no one was counting the difference. The exchange felt right. It was a social interaction. Precise economic calculation is a [B]consequence[/B] of a monetized society. It is wonderful. Profit pushes the grave farther away. Money can just as much be a matter of social gifting. The Japanese do it.[/QUOTE]
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