Thus said Nicholas Leippe on Fri, 05 Dec 2008 10:14:47 MST: > I agree. Money is not wealth. Money is a means of wealth > transferrence.
Money is a medium of exchange. Wealth (and perhaps more correctly capital) transfers from those who provide the best stewardship of it. Those who are successful at meeting their customers' needs and also in employing capital to meet those needs gain more of it, those who do not are driven out of the market. > Wealth, is measured in property. An interesting aside is, when you use > a precious metal as money, it now wears two hats. The same is true of paper money. When you use paper as money, it wears two hats; there is a demand for the paper qua money, and there is a demand for paper in other uses. In addition, the nominal value of the paper money far exceeds the market value. Andy -- [-----------[system uptime]--------------------------------------------] 9:23pm up 54 min, 1 user, load average: 1.00, 1.00, 0.97 /* PLUG: http://plug.org, #utah on irc.freenode.net Unsubscribe: http://plug.org/mailman/options/plug Don't fear the penguin. */
