this post was submitted on 13 Aug 2023
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Money is just an IOU. The only thing it introduces is the ability for trades to take place over longer periods of time.
If, for example, we agree that you will fix my sink and I will feed you lunch for your efforts, but you're not hungry while you're at my place, I can give you an IOU β money β to redeem for food at a later point in time when you are hungry. Without money, I would have to feed you when you are full in order to satisfy our deal, which is less than ideal.
Why is that beneficial deferral at the root of of all problems?
The Communist Manifesto suggests that once we enter a state of post-scarcity, government will no longer be needed. Why do you think it got it wrong?