by Summary:
Mainstream economists long ago accepted simplistic ideas of a market economy as a basis for analysis (with “money” merely a veil and thus safely ignored), making their entire opus largely useless. To avoid this error, better scholars highlight the profound social-organizing roles of currency systems: The tax/tax-credits system and the banking systems that build-out from it (the former organizes public goods, the latter, private production). For modern states these systems began to develop after the period of state formation from around 1500 AD on. Remarkably, however, research shows that “modern” tax-credit systems date back to the very first states (Sumer, 3500 BC) and the dawn of history (record-keeping and writing stem from the same accounting base as the first tax systems in
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Mainstream economists long ago accepted simplistic ideas of a market economy as a basis for analysis (with “money” merely a veil and thus safely ignored), making their entire opus largely useless. To avoid this error, better scholars highlight the profound social-organizing roles of currency systems: The tax/tax-credits system and the banking systems that build-out from it (the former organizes public goods, the latter, private production). For modern states these systems began to develop after the period of state formation from around 1500 AD on. Remarkably, however, research shows that “modern” tax-credit systems date back to the very first states (Sumer, 3500 BC) and the dawn of history (record-keeping and writing stem from the same accounting base as the first tax systems in
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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Mainstream economists long ago accepted simplistic ideas of a market economy as a basis for analysis (with “money” merely a veil and thus safely ignored), making their entire opus largely useless.
To avoid this error, better scholars highlight the profound social-organizing roles of currency systems: The tax/tax-credits system and the banking systems that build-out from it (the former organizes public goods, the latter, private production).Clint BallingerFor modern states these systems began to develop after the period of state formation from around 1500 AD on. Remarkably, however, research shows that “modern” tax-credit systems date back to the very first states (Sumer, 3500 BC) and the dawn of history (record-keeping and writing stem from the same accounting base as the first tax systems in ancient southwest Asia)....
Commodity exchange units-of-account almost certainly predate 3500 BC temple state-money. Neoclassical Econ is still nonsense.
Clint Ballinger
See also from Clint
How the euro illustrates an important point on the origins of “money”