HeavenlyPossum on Nostr: I owe this understanding of the economy to the brilliant Kevin Carson who, in the ...
I owe this understanding of the economy to the brilliant Kevin Carson (npub1glr…8qmc) who, in the essay below, argued compellingly that credit was and should be a commons. Anyone can supply anyone else, with the expectation that they will be supplied in turn—a giant network of constantly-turning over credit.
*Financial* investment is, then, a reflection of the state’s enclosure of credit. The state monopolizes the production of money with its capitalist partners, banks and other financial institutions. If you want to access the money you need to invest—to access that network of workers advancing product to each other—you have to first agree to pay interest to banks on loans, ie, rents on their control of credit.
https://theanarchistlibrary.org/library/kevin-carson-credit-as-an-enclosed-commons
*Financial* investment is, then, a reflection of the state’s enclosure of credit. The state monopolizes the production of money with its capitalist partners, banks and other financial institutions. If you want to access the money you need to invest—to access that network of workers advancing product to each other—you have to first agree to pay interest to banks on loans, ie, rents on their control of credit.
https://theanarchistlibrary.org/library/kevin-carson-credit-as-an-enclosed-commons