[ExI] Psychology of markets explanations

Stefano Vaj stefano.vaj at gmail.com
Wed Jun 17 16:55:34 UTC 2009

> --- On Wed, 6/10/09, Stathis Papaioannou <stathisp at gmail.com> wrote:
> > 2009/6/10  <dan_ust at yahoo.com>:
> >
> > > I don't have a rock solid explanation, but recall my
> > mention David Glasner's essay "An Evolutionary Theory of the
> > State Monopoly Over Money"?*  In that essay, Glasner posits
> > that states tend to interfere in and gain monopolies over
> > money to deny financial resources being used to alter or
> > overthrow their rule.

I am not following this thread, but my eyes fell on those lines, which were
quite a surprise.

In fact, as the argument goes, the problem originates on the contrary from
the fact that, starting from the establishment of the Bank of England in
1694, States progressively *renounced* their power on money in favour of
private institutions which operate under purely economic mechanisms and/or
go after the exclusive interest of the financial system itself to the
detriment of society as a whole and of "real" economy.

If one does not care much for re-reading Ezra Pound in this respect, Money
as Debt or Zeitgeist Addendum offer indeed some food for thought... :-)

Stefano Vaj
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