[OPE-L:1870] Re: Definitions of value

Chai-on Lee (conlee@chonnam.chonnam.ac.kr)
Mon, 22 Apr 1996 09:09:53 -0700

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Capital commands the labour of others because it is money.
If I purchase a haircut with money, I command the barbers
labour, but my money is not capital. If I purchase bread,
I indirectly command the labour of the bakers.

OK. You are saved on that. I misunderstood. =20

Book keeping and coinage are both technologies for recording
information, the latter arises after the development of place
notation in arithmetic. Coinage is closely related to calculation
using abacusses and reckoning tables. Double entry book keeping
developed after the spread of the Indian number system allowed
similar calculations to be performed on paper. Prior to that,
actual piles of coin moved on a reckoning table performed the
same function. Both coinage and book keeping are now obsolete, most of =
the monetary function is performed using relational databases.
One should not identify the social function of money with one
of its technical forms.

Now it became clear that your conception of money is simply about an =
instrument of calculation. Money itself also needs the instrument of =
calculation, however. And the monetary transaction itself requires the =
book-keeping of it. Your conception of money is far from the asset form =
of money, isn't it? =20