RE: [OPE] How to read Capital genesis of money

From: Paul Cockshott (
Date: Fri Apr 04 2008 - 07:19:21 EDT

Dogan wrote:
>             Well, how do you explain then the genesis of money. I hear 
> from you solely that Marx's explanation does not work,
>             that it does not hold to the empirical evidences. So, what 
> is your explanation of the genesis  of money?
I think the best theories available are the state theories of money. 
Paul C has pointed to some good sources. The genesis of money can be 
traced to taxation by states in pre-capitalist societies. In short, when 
the tax debt is transferable you have money.

  I would have said it is when the tax credit is transferable you have money.
  Wrays argument about tally sticks, is that these were records of state credit
  for having performed services to the state, and that these could be supplied
  to the exchequer in lieu of coin for settling tax debts.

ope mailing list

This archive was generated by hypermail 2.1.5 : Wed Apr 30 2008 - 00:00:18 EDT