Monday, 15 October 2012

From Scarcity to Money

An attempt to show in diagram form the progression from the observation that objects are scarce/rivalrous, to the necessity of property laws, to the development of money.


  1. This comment has been removed by the author.

  2. A revealing example of this is that many people fear that in case of massive sovereign debt write-downs, the European Central Bank would suffer so many losses that it would require a recapitalization, at the obvious expense of the european taxpayers.

  3. I really delight in whilst I go through your blogs and articles.