Doug Henwood on Mon, 21 Jan 2002 17:33:01 +0100 (CET) |
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[Nettime-bold] Re: <nettime> dollars & donuts |
Michael Linton wrote: >The money illusion. Perhaps if you specify just what you consider that to be >we can discover whether "LETS people" are so elevated. Please define, This is a naivete affected for rhetorical purposes, right? Surely someone promoting a scheme for monetary reform would be familiar with the term. On the off chance the question is serious, the money illusion is a term in economics, coined I believe by Irving Fisher, describing the alleged propensity to mistake a nominal change for a real one. Say if inflation is running at 5%, and you get a 5% raise, your real wage increase is 0%, but it may still feel like a gain, just because there are bigger numbers printed on your paycheck. Of course I was using it figuratively - that by changing the form of money you're somehow changing underlying social relations. Reminds me of a roommate I had in college, who'd heard that if you were healthy, your urine was mildly acidic, so he drank vinegar. Too bad he had a distressing habit of leaving used litmus paper strips around the bathroom. Doug _______________________________________________ Nettime-bold mailing list Nettime-bold@nettime.org http://amsterdam.nettime.org/cgi-bin/mailman/listinfo/nettime-bold