Re:Everything Must Be Paid for Twice
by imtringued on Friday June 16, 2023 @02:27PM
(#36361431)
Please don't bring transaction costs into play, you might ruin the beautiful neoclassical models.
If money saves transaction costs, then it can't be neutral. The introduction of money becomes an essential part of the economy. It's not like there are good alternatives to money.
Don't think this further and wonder if interest is just a monetization of the transaction cost savings. Then it would turn out that interest payments negate the benefits of the division of labor entirely.
If money saves transaction costs, then it can't be neutral. The introduction of money becomes an essential part of the economy. It's not like there are good alternatives to money.
Don't think this further and wonder if interest is just a monetization of the transaction cost savings. Then it would turn out that interest payments negate the benefits of the division of labor entirely.