MARX Paperirahan Vannoutunut

Nykyään paperirahaa pidetään ateistien parhaimmistona keksintöjen suhteen, Atte-esi-isä Karl Marx oli kuitenkin eri mieltä:

"Even Karl Marx was vehemently against paper money, because it violated his Labor Theory of Value (LTV). The premise of the LTV is that things have value because of their labor content.

Since it takes no more labor to create a $100 bill as compared to a $1 bill, Marx took the position that there is no value in paper money. In fact, he was in favor of gold-as-money partly because of the labor necessary to get gold out of the ground and refine it.

The reason gold is chosen as money (when it is available) cross-culture and cross-time is that gold minimizes the transaction costs of transferring wealth over time. Moreover, the monetary metals, gold and silver, are the only commodities for which there is more than a year's worth of production above ground. Up until the middle of the 19th century, there were no industrial uses for silver. Today, silver is largely an industrial metal.

Gold, on the other hand, has minimal industrial uses, and there is 60 year's worth of production supply above ground. Thus, gold is the only commodity for which pricing arrangements remain stable into the future regardless of whether the mines close down or new gold deposits are discovered.

In addition, as Paul Volcker so eloquently pointed out, “a global economy requires a global currency.” Volatility in foreign exchange rates destroys the international division of labor, which reduces everyone's standard of living. Gold-as-money solves this problem.

Best,

Larry Parks"

Larry Parksin voi kai googlettaa jos kiinnostaa enemmän, tai voi googlettaa Labor Theory of Value.

Terveisin, ikuinen sielu.