Tuesday, 25 October 2011

Work and value

The goal of work is to use time and skill to produce value. Our society of trade is based on the idea that other people will produce the right value to exchange for ours. We use money as an enabler of trade, so that even if you have no goods I want and vice versa, we can still do business with each other. With the view of money as a means of enabling trade, two things immediately stop making sense: pure finance markets and people who hoard massive piles of cash. Finance markets make the medium of trade into a product of its own, and that causes inflation pretty directly, because people are paying more than face value for money. Sooner or later that house of cards must fall down. Hoarding cash, similarly, is like preparing for big trades that never happen. Having more money than you could ever use should be seen as a sign of wasted effort, a bad case or paranoia or pathological greed. Only in a few cases could it be seen as having produced something of worth that the whole world wanted.

Mokalus of Borg

PS - Or performing some service the whole world needed.
PPS - But that's even rarer.

No comments: