Progress is inevitable, people will always devise ways to improve their circumstances and these methods will always be communicated and shared, copied. Progress is unstoppable. There is no point fighting it.
In one sense, fiat currencies help alleviate the problems caused by the phenomenon of progress and development in that they provide a ready means to access Capital. If progress is made too quickly, and is too easily exploited by the managers and landlords (holders of the means of production, both instruments and subjects of labour) it means that the workers are not able to gain any advantage and it becomes impossible for them to get out of their landless situation. This is not to advocate the present banking system, only to indicate that inflation of the currency allows concentrated wealth to be diluted.
Tuesday, 26 January 2010
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