In a recent post on the concept of a “stock of savings”, I argued:
In a proper money economy investment does not depend on anyone’s conscious decision to save. All it requires is the purchasing power to bid away resources into investment use. This purchasing power can be amassed by abstaining . . .
A second pass at the themes in The Meta Level Doesn’t Justify Itself. I’ll roll the two together at some point in the indefinite future.
Imagine you need money, and somehow you find yourself sitting across from Warren Buffet pitching a new business venture.
From a purely self-interested perspective, your best scenario . . .
Big questions can only be competently approached from a specialized research program. Here’s how I see my own research program – monetary theory – informing a broader theory of civilization.
Coordination and Extended Cognition
The most obvious relevance of monetary economics to a theory of civilization is the coordinating potential of the price . . .