"I think the main reason conventional currency is scarce is it's a store of past value rather than simply a unit of measure for denominating the exchange of present and future goods. So if no one in a community already has currency already…"
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understanding scarcity of conventional money
Started this discussion. Last reply by Kevin Carson Jan 9. 3 Replies 0 Likes
I don't entirely understand why conventional currencies are inherently scarce. I think this is essential to have a basis for the whole complementary currency movement, so it must be understood…Continue
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"Goods and services are not necessarily scarce, they are certainly finite, some are even abundant. What is scarce is the money itself. Modern money is scarce by design. That means that the money is created as debt to be repayed later with interest.…"
Ferananda Ibarra replied to Nitin Gadia's discussion understanding scarcity of conventional money"This is a great place where to go for conversations. Direct link to your question in quora:
http://www.quora.com/Is-the-monetary-system-and-economic-model-flawed-given-that-it-revolves-around-scarcity?q=money"
Nitin Gadia posted a discussionunderstanding scarcity of conventional money
I don't entirely understand why conventional currencies are inherently scarce. I think this is essential to have a basis for the whole complementary currency movement, so it must be understood thoroughly.I understand the impossible contract, that there is always more owed in interest than what exists at any given time... but is this the only inherent basis of scarcity with conventional currencies? I also understand that the supply of money is linked to the amount of money on deposit, which…See More
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