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ybx | 10 years ago

> Money is an artifact of the state; always has been, always will.

This is patently false. Money has existed before states, and it has existed without states.

discuss

order

nickbauman|10 years ago

There is almost no archeological evidence to support your claim. There is ample evidence supporting my claim.

Money (specie: often in the form of coinage but not limited to such) was invented when a warlord or monarch captures riches (mines, cities), strikes coins with his visage, uses the coins to pay his soldiers (who are otherwise awful credit risks), then demands taxes from the free peasantry, creating a market economy in the process. States create markets. Markets require states. If for no other reason than to provide protection over the transaction with the threat of coercion.

Before money existed, the free peasantry used credit. The historical evidence shows that first came credit, then came money, then came barter. The exact opposite of what Adam Smith and most economists believe.

droffel|10 years ago

  The historical evidence shows that first came credit, then came money, then came barter.
Can I get a citation on this? Literally any citation that money came before barter will work.

swyman|10 years ago

Where can one read more about this?

CyberDildonics|10 years ago

Before credit was gold, which throws a wrench in your beliefs.

I don't know if livestock domestication would be said to be a precursor to gold in some places.