Posts tagged exchange

The problem that crops up in all discussions of this kind, however, is the ambiguity of the term “work,” particularly in a capitalist society. It has at least three distinct meanings that are relevant. One, it can mean activity that is necessary for the continuation of human civilization, what Engels called “the production and reproduction of the immediate essentials of life.” Two, it can mean the activity that people undertake in exchange for money, in order to secure the means of continued existence. Three, it can mean what Gourevitch is talking about, an activity that requires some kind of discipline and deferred gratification in pursuit of an eventual goal. These three meanings tend to get conflated all the time, even though they all appear seperately in reality. This is the point I’ve tried to make going back to my earliest writing on this topic. “Work” manifests itself in all eight possible permutations of its three meanings.

https://www.jacobinmag.com/2014/02/work-it/

MONEY is perhaps the most basic building-block in economics. It helps states collect taxes to fund public goods. It allows producers to specialise and reap gains from trade. It is clear what it does, but its origins are a mystery. Some argue that money has its roots in the power of the state. Others claim the origin of money is a purely private matter: it would exist even if governments did not. This debate is long-running but it informs some of the most pressing monetary questions of today.

http://www.economist.com/node/21560554