Donovan Hurley on Nostr: Money is downstream of property rights, yet inextricably linked with it. Property ...
Money is downstream of property rights, yet inextricably linked with it.
Property rights + a society of a certain scale = a demand for a nominal unit to calculate exchange. Without it a society can't scale. It is absolutely and utterly vital.
The purpose of property rights is to remove the need for violence in establishing the distribution of ownership. People own things, you need to create or trade if you want to own things too. Those are the property rules.
Now, the purpose of money is to scale the group that can exchange property rights. Instrumental to the degree of division of labour.
Open rules = open group to exchange property with.
Property rights + a society of a certain scale = a demand for a nominal unit to calculate exchange. Without it a society can't scale. It is absolutely and utterly vital.
The purpose of property rights is to remove the need for violence in establishing the distribution of ownership. People own things, you need to create or trade if you want to own things too. Those are the property rules.
Now, the purpose of money is to scale the group that can exchange property rights. Instrumental to the degree of division of labour.
Open rules = open group to exchange property with.