Monday, February 25, 2013

The value of money, an anthropological view

A critical insight into manufacturing money reveals that in fact it is created out of nothing. Despite money itself having no inherent value (in fact, it should be a mere systems of measures for exchange of commodities, akin to the metric or imperial system ), it acquires a value of its own: just like in case of social identities, in relation to the other, one currency in relation to another (and all others). It is everyone's belief in its value that creates and sustains it. Money's value being imaginary makes it none the less real.

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