February 22, 2001

5:01 PM

The End of MoneyInteresting article about what money really means in the digital age. "If you want currency backed by something tangible, sign up for 5,000 frequent flier miles on a new Visa card. "
posted by zeoslap (9 comments total)

I like the way they've got the link at the botoom of the page to the author's website marked "LINK:"

Just in case you weren't sure what it was. ;-p
posted by locombia at 6:57 PM on February 22, 2001

On a mailing list I subscribe to, there was a long discussion on how to repay an (American) list member for a meal he settled while visiting in Britain. The solution? Amazon gift certificates. Freely convertible currency.
posted by holgate at 7:50 PM on February 22, 2001

Huh. The (maybe) radical notion that Capitalism might actually evolve into *gasp* Sharing.

I knew kindergarten education would kick in sooner or later. Ayn Rand was a spoiled brat. And I'm selling my stock tomorrow to throw that worthless green paper in the street and release myself from these corporate shackles...

posted by salsamander at 8:13 PM on February 22, 2001

I'm selling my stock tomorrow to throw that worthless green paper in the street and release myself from these corporate shackles...

Throw some of that green paper at me, I'd love to relieve you of those corporate shackles...
posted by dagnyscott at 9:07 PM on February 22, 2001

So money isn't tangible... it never really was, especially after the gold standard went away. But the concept of money is required for a market economy to work well, whether it's in the form of gold, paper, or electronic pulses. I'm not sure how any "sharing" economy could possibly encourage risk, investment, and entrepreneurship without the concept of money. And without risk, investment, and entrepreneurship, entropy will quickly take hold over our infrastructure and our society. So now how exactly do we prevent that?

Or am I just taking this too seriously?
posted by daveadams at 10:00 PM on February 22, 2001

isn't this just hyped-up plain-ol' barter economics?
posted by dagny at 3:15 AM on February 23, 2001

zeoslap: you might be interested in this book, The Future of Money:
Creating New Wealth, Work, and a Wiser World (note the subtitle change from the original preface :) i think it's only available in the UK, though. does anyone know if amazon.co.uk delivers to the states? found it off slashdot. the transaction.net site looks pretty cool, too, btw.
posted by kliuless at 6:46 AM on February 23, 2001

Money is't going to disappear, but cash might. Some standard for measuring the worth of purchases must still exist, even if it's gift-certificates, free-flyer miles or shares in Coca-Cola or whatever. Bartering every good or service for another is too complicated.
posted by Loudmax at 11:59 AM on February 23, 2001

I'm involved with a LETS group in west Wales and about a tenth of my income is in 'Teifis' (our local currency). I can buy food, clothes, holidays and amusing gift items with LETS units that I earn doing work I enjoy (no need for a direct exchange like in barter).

Anyone here in a Time Dollar scheme, anything like that?
posted by ceiriog at 12:31 PM on February 23, 2001