[Jim Dundon 06.24.06.0700edst]
Money that is.
My take:
MONEY is a tally.
MONEY represents a record of my labor.
MONEY represents a medium with which to change the form of my labor from production of stock to consumption of stock.
MONEY represents my participation in a varied task-distributed labor form of wealth production.
MONEY represents my contribution to the stock of goods and services.
MONEY gives me earned right to access the product of labor in a vary tasked-distributed labor market.
MONEY is a measure of my ownership of the use of land.
Most of all:
MONEY represents the record of my intent and right to consume
All labor takes place on land. all labor requires land. All labor requires access to land. When I purchase something I am dictating that land will be used for that purpose. Money gives me right of that much ownership of land.
Control of the money stock is control of the right to consume.
So who should control the stock of money?
Those who produce consumable goods and services.
If I am a freeman in a commonwealth, I and my fellow citizens own and control the money supply. If we don’t, we are not freemen and it is not a commonwealth. Control of the stock of money is control of the land.
The form of money should be determined by public fiat.
The best form of money is something which is not consumable, easy to produce, hard to obtain. Consumable forms of money like gold and silver inject a great measure of instability into a market.
Best
JIM D