If you’ve read the Introduction from this Anti-Concepts of Money series we can now discuss the Anti-Concept: GDP The Anti-Concept of GDP Let’s discuss thet anti-concept, Gross Domestic Product or GDP for short. Armed with an understanding of anti-concepts, it should be obvious from one of the ways it’s calculated. From Wikipedia: Y = C […]
If you’ve read the previous essays on Purchasing Power, Inflation, and Money from this Anti-Concepts of Money series we can now discuss the Anti-Concept: Store of Value The Anti-Concept of a Store of Value Another anti-concept is store of value. The very term evokes a picture of a container. You pour water into the container, […]
If you’ve read the previous essays on Purchasing Power, Velocity, and Money from this Anti-Concepts of Money series we can now discuss the Anti-Concept of Inflation The Anti-Concept of Inflation The Anti-Concept of Purchasing Power leads us to the Anti-Concept of Inflation. That pseudo-equation already smuggles that any increase in the quantity of money causes […]
If you’ve read the previous essays on Velocity and Money from this Anti-Concepts of Money series we can now discuss the Anti-Concept of Purchasing Power. The Anti-Concept of Purchasing Power Let’s look at another anti-concept, purchasing power. Wikipedia defines it as: “the amount of goods and services that can be purchased with a unit of […]
If you’ve read the What is Money? essay from this Anti-Concepts of Money series we can now discuss the Anti-Concept of Velocity. That pseudo-equation MV=PQ described in the What is Money? essay leads us to the anti-concept velocity. The Anti-Concept of Velocity Even in the gold standard, money supply is not a physical object that […]
If you’ve read the Introduction to this Anti-Concepts of Money Series then we are ready to address money. The Anti-Concept of Money Merriam-Webster says money is: “something generally accepted as a medium of exchange, a measure of value, or a means of payment.” Wikipedia says: “Money is any item or verifiable record that is generally accepted […]
This essay is more philosophical than my typical writing. The reason is that I need to say something very important, that flies against everyone’s deeply held beliefs about money. And to get to the root of the issue, I must check and challenge the very concepts with which people think about the subject, in order […]
