Post
Topic
Board Economics
Re: Economic Totalitarianism
by
username18333
on 22/07/2015, 20:32:32 UTC
The masses don't love money enough to hoard it (thus the power-law distribution of wealth), yet they need money as a unit-of-exchange (and thus as a unit-of-account and a reasonably stable store-of-value) in order to maximize the division-of-labor which is essential to maximizing production and efficiency (the inexorable march of entropy which can not be reversible per the Second Law of Thermodynamics which Einstein even said was the most fundamental law of nature).


(Einstein on quantum mechanics: "God does not play dice.")

Quote from: Plato, _Euthyphro_, 380 BCE
Soc. We shall know better, my good friend, in a little while. The point which I should first wish to understand is whether the [capital] or [money] is beloved by the [1‱] because it is [money], or [money] because it is beloved of the [1‱].
(Germaneness mine.)
(Red colorization added.)

You still have not addressed "[t]he point" (Plato), Euthyphro.