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How we got here
History was one of the classes in school i found little use for. Not
that i don't enjoy history or see its importance; its just that the
emphasis was always towards, what i considered, the least import: names,
dates, locations--and almost always centered around politics and war.
Much more useful to my mind is what happened, why, and what were
the repercussions.
Enter How we got here: A
Slightly Irreverent History of Technology and Markets, by Andy
Kessler. In about 200 pages, he describes the parallel evolution of
modern technology and economics while staying relevant, often
downright amusing, and finally thought provoking.
One topic touched briefly on, making me completely rethink my view of,
was the backing of money with gold. I'm not sure which economics book
or pseudo-economic propagandist i'd bought into, but i've had the
lurking view that money should be backed by something--gold generally
comes to mind. On second thought, gold really has no intrinsic value.
Fools' gold
illustrates this quite nicely:
If people were stranded in some remote location without food, water, and
shelter, a mountain of gold would serve no more purpose than so much
sand. It would have no price. Gold has no intrinsic value. It merely has
a price which is the result of complex factors associated with its
subjective price value compared to other commodities. Industrial
usefulness of gold as well as human subjectivity that desires gold for
personal adornment, etc., does assure that gold will fetch a price in a
modern market. But what price? -- Robert Carroll
In any case, i now how some new theoretical filters for viewing the
world of technology and money, and i love new philosophical filters.
[2005.05.18 02:07] |
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