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.



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  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. bankreconciliation.info

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