Travis Crump wrote:
Ron Johnson wrote:On Fri, 2003-02-07 at 20:57, Gary Turner wrote: [snip]eg. Actually, all goods and services come from the government...Try producing your own goods and services.Maybe I'm missing something, but what are you talking about. People and corporations produce their own goods and services every day.People and corporations produce their own money every day as well; have you ever written a check? Try coming up with a difference between checks, iou's, deeds, stock certificates, bonds, etc. and government produced money that isn't circular, ie "the first set isn't money because it is not government backed" Have you ever gone to a fair or arcade where you have to buy 'tokens' to pay for the games/rides? What are the tokens if they aren't money?
I'll give you a difference: liquidity. There are also differing degrees of transferability and risk associated with all the forms of assets that you've listed. I can't just use the tokens anywhere; they are probably only redeemable at that particular arcade, though I might be able to sell them to another arcade-goer at par or at a discount.
-- David P. James 4th Year Economics Student Queen's University Kingston, Ontario http://members.rogers.com/dpjames/ The bureaucratic mentality is the only constant in the universe. -Dr. Leonard McCoy, Star Trek IV