I once attended a forum for black students held at York University, where there were a number of seminars and sessions to try to broaden the discussion and (I guess) impart some life skills. One of these forums was about developing and harnessing economic power, moderated by two women who had a successful business consulting firm. Some of the stuff was useful (invest in real estate, work closely with other black businesses to keep money ‘in the community’), while some of the stuff was a bit… different (sell your real estate and buy platinum bouillon!). In a fit of mysticism that I have found to be distressingly common among black intellectuals, they encouraged us to think of ‘money’ as part of an acronym:
Mobilize Our Natural Energy Yield
Which is, y’know… not where the word comes from, but whatever. Small quibble.
The point of the acronym was, I think, to divorce our minds from the concept that paper money is actually worth something in and of itself. Money is, and always has been, a proxy for the time and skill that goes in to the production of goods or services. Since its very early days, it has grown and expanded to represent a lot of other things as well, but at its fundamental level money is what you exchange for goods and services according to the level to which you value them.
The recent economic collapse revealed that our concept of ‘money’ had moved dangerously far away from anything resembling goods and services, and has instead mutated into a seemingly-arbitrary score that different groups use to decide who is better than the other. And when we started realizing “hey, wait a second, this whole thing is built on fairy dust and leprechaun tears”, it collapsed. But at some point, there was MONEY flowing between places, right? So where the hell did it all go? Did it just disappear into the ghost of the machine? Maybe. Then again, maybe not: [Read more…]