April 15, 2012

It is important to realize that there is a difference between capital and money. Money can be viewed as an object-in-itself. It can be horded. In fact, as Marx points out, any commodity can be horded, but it does have practical and aesthetic limits placed on its refluxive value that capital does not have. It may be necessary to keep some negotiator of exchange like money alive in local economies. The beauty of local currency is that it cannot become reflux. It is locked into the reality of a community of exchange. What can we do about money in the global movement of exchange that we see as essential to the whole system?

Remember too that we are not only interested in the negative moment of restricting consolidation, we are also interested in the positive moment of increasing the distributing essential goods and services like medicine and technology that expand beyond the local level.


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