Posts Tagged ‘Theconversation

19
Jan
18

Theconversation II

Evening, you are of course correct that the market, in itself, is simply an efficient medium by which to exchange, the work done by increasing entropy.

Money, the medium of exchange, is now digital, existing as a construct. So what will you tell your child when they ask where monies come from? Is it like the milk from the store, does money come from banks?

As the medium of exchange, every transaction phases through money. Money is work, an expression of the ability to do work. Work is energy. The entire capitalistic venture is built upon the ability to make a transaction to exchange energy.

The market however, does not judge the value of a thing, based on the amount of energy consumed. The value of the thing, is dependent on demand, the want for a thing, the expectation that a thing can gain you a profit. Therefore the actual exchange of money is not a pure exchange of energy.

So money, in a non-fiat world, becomes a representation of the willingness to pay for a thing that has consumed energy. It in no way represents the potential energy of the thing itself.

In such a way has bitcoin gained value, it consumes a prodigious amount of energy and yet has no physical potential to do work. Bitcoin is postmodern money in a false economy. Based on short term demand and the assumption that the energetic economy can continue infinitely within a finite world.

17
Oct
17

Theconversation

Evening, you are of course correct that the market in itself is simply an efficient medium by which to exchange the work done by increasing entropy.

It would seem that the market democracy has already usurped actual democratic governance by enabling an unfair bias towards those that control the medium of exchange.

Those, the majority, without significant capital are already disenfranchised. Their instinct to revolt is only kept in check by debt, consumerism, an imagined trickle down effect and the lack of moral and ethically boundaries in a market system.

We can probably both agree that each of the seven, once deadly, sins are making strong surges in an effort to quieten this growing sense of unease with a system increasingly out of our control. Greed is good, gluttony is widespread, vanity – thy name is facebook.

The democractic ideal of an enlightened voting public, can never be achieved, as the public will never be enlightened. They will increasingly believe whatever makes them feel good, whatever promises them riches, whatever inspires the ego to hate.

This is the power of the market subsumed to a valueless tool to add to the wealth of a very few at the cost of an entire planet. As long as the very few own the medium of exchange, of ideas and of ideals, I cannot share your optimism for the market.

Perhaps Dante was simply writing about the human state when he penned ‘all hope abandon Ye who enter here’.