Saturday, September 5, 2026

David Harvey for cryptic cash and markets

 https://libcom.org/article/companion-david-harveys-companion-marxs-capital-chapter-1-critisticuffs

look at David Harvey's more recent suggestion for an alternative form of money: oxidisable money, which he argues would prevent the accumulation of social power . . ."

"Or on the monetary question – we need money to circulate commodities, no question about it. But the problem with money is that it can be appropriated by private persons. It becomes a form of personal power and then a fetish desire."

David Harvey in an interview for Red Pepper

"Now what is money and is there a contradiction in the monetary form? It turns out money is really a claim on social labor and there is therefore a contradiction in Marxist terms between money and value. […] As a medium of circulation money is fairly neutral. The big problem with money is its function as a store of value, because as a store of value it can store social power."

". . .  accumulate value, social power. And we see what happens in societies. But if you had a money form that dissolved, that is oxidisable, we would end up with a very different kind of society. You would have a money form that would aid circulation but that would not facilitate accumulation."

– David Harvey 

 

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