Re: (OPE-L) Re: Realisation an seigneurage

From: Paul Bullock (paulbullock@EBMS-LTD.CO.UK)
Date: Thu May 01 2003 - 16:24:56 EDT

Paul,  please send me the references to the  'similar' articles  you refer to, I should like to look at them


  ----- Original Message ----- 
  From: Paul Cockshott 
  Sent: Thursday, May 01, 2003 9:32 AM
  Subject: Re: (OPE-L) Re: Realisation an seigneurage

  Paul Bullock wrote: 
    this might sound a bit repetative, but  if you go to the site 

    you will find the article 

    'Inflation, The crisis and the Post war Boom' 1979 (2nd ed) 

    which deals with this question, perhaps not fully to your own interest of 
    the idea of direct state gains from inflation... but provides the basis for 
    an understanding. 

    It can be printed off

  I read it when it originally came out, and was publishing 
  similar articles myself at the time. 

  My point was not to discuss the actual causes of inflation 
  but to discuss the ontological point made by the value form 


    Paul Bullock 
    ----- Original Message ----- 
    From: <clyder@GN.APC.ORG> 
    Sent: Tuesday, April 29, 2003 9:56 PM 
    Subject: Re: (OPE-L) Re: Realisation an seigneurage 

    > Quoting gerald_a_levy <gerald_a_levy@MSN.COM>: 
    > > Paul C wrote on Tuesday, April 29: 
    > > 
    > > > I want to consider the obverse situation - what validates 
    > > > the money issued by the state bank and or the credit system. 
    > > 
    > > Exchange. 
    > > 
    > > The state bank can issue promissory notes, but  those notes 
    > > must still pass the "test" of exchange to be socially validated 
    > > as money.   If, for whatever reason,  those notes are not 
    > > accepted as a medium of exchange and if those notes are not 
    > > able to serve the other functions of money,  then they don't 
    > > become, or continue to be, money and revert to what they were 
    > > before being issued by the state bank, i.e. just pieces of paper. 
    > > 
    > > In solidarity, Jerry 
    > This is not adequate Jerry. 
    > The point I am making relates to the general phenomenon of 
    > inflation, where state bank notes continue to function as money 
    > but depreciate. I am not concerned with the rare situations in 
    > which the currency becomes completely worthless - but the more 
    > mundane phenomenon of monetary inflation. 
    > A dollar is still accepted as a medium of exchange in the US 
    > but it is worth significantly less than it was 30 years ago say. 
    > > 
    > > 

Paul Cockshott
Dept Computing Science
University of Glasgow

0141 330 3125

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