[D-G] greshems's law
chapman0603 at rogers.com
Fri Jan 7 10:08:13 PST 2005
that must be a good book then. i'll read it. danka.
From: deleuze-guattari-driftline.org-bounces at lists.driftline.org
[mailto:deleuze-guattari-driftline.org-bounces at lists.driftline.org]On
Behalf Of Dr. Harald Wenk
Sent: Friday, January 07, 2005 12:43 PM
To: deleuze-guattari-driftline.org at lists.driftline.org
Subject: Re: [D-G] greshems's law
this is not what i have meant, “bad money drives out good" is more directed
to originals are more and subistuted and pressed away by bad copies.
What you mention on money is already known to me by the original: Simmels
"Philosophy of money".
Am Fri, 7 Jan 2005 11:45:39 -0500 schrieb Chapman <chapman0603 at rogers.com>:
> Harald Wenk,
> Have you read Major Douglas on Credit? Same commotion but he's got it
> wired so that we don't think abt convertability in terms of grains,
> grass and minerals but in terms of transaction or consumption value.
> Money is acknowledged to be a form of credit, 'production of
> consumption.' The more it's used, the more value it accrues - nifty non?
> (bow and le-hold 'homus schizophrobeniuus is every name in history...')
> Sylvie, I understand your focus on raised northern chins. I was thinking
> that maybe the Bergsonism book would be useful. I can't read more than
> about thirty pages myself, but I think the big ideas about time and the
> experience of it are fronted for us in that work. Have you been to
> Longbeach, Or. , seen the haystacks?
> There's no state tax in Oregon.
> Chris Chapman
> -----Original Message-----
> From: deleuze-guattari-driftline.org-bounces at lists.driftline.org
> [mailto:deleuze-guattari-driftline.org-bounces at lists.driftline.org]On
> Behalf Of Dr. Harald Wenk
> Sent: Friday, January 07, 2005 11:23 AM
> To: deleuze-guattari-driftline.org at lists.driftline.org
> Subject: [D-G] greshems's law
> ------- Weitergeleitete Nachricht -------
> Von: "Dr. Harald Wenk" <hwenk at web.de>
> An: "Sylvie Ruelle" <sylvieruelle at earthlink.net>
> Betreff: Re:Datum: Fri, 07 Jan 2005 16:28:23 +0200
> "Gresham's Law:
> observation in economics that “bad money drives out good.” More exactly,
> if coins containing metal of different value have the same value as legal
> tender, the coins composed of the cheaper metal will be used for payment,
> while those made of more expensive metal will be hoarded or exported and
> thus tend to disappear from circulation. Sir Thomas Gresham, financial
> agent of Queen Elizabeth I, was not the first to recognize this monetary
> principle, but his elucidation of it in 1558 prompted the economist H.D.
> Macleod to suggest the term Gresham's law in the 19th century.
> Money functions in ways other than as a domestic medium of exchange; it
> also may be used for foreign exchange, as a commodity, or as a store of
> value. If a particular kind of money is worth more in one of these other
> functions, it willbe used in foreign exchange or will be hoarded rather
> than used for domestic transactions. For example, during the period from
> 1792 to 1834 the United States maintained an exchange ratio between
> and gold of 15:1, while ratios in Europe ranged from 15.5:1 to 16.06:1.
> This made it profitable for owners of gold to sell their gold in the
> European market and take their silver to the United States mint. The
> effect was that gold was withdrawn from domestic American circulation;
> “inferior” money had driven it out."
> In my eyes it is realted to simulacras.
> If it is not helpfull for you, forget about it.
> Harald Wenk
> Am Thu, 6 Jan 2005 19:22:49 -0800 schrieb Sylvie Ruelle
> <sylvieruelle at earthlink.net>:
>> no. what is it?
>> On Jan 6, 2005, at 4:31 PM, Harald Wenk wrote:
>>> Do you know Gresham's Law?
>>> Harald Wenk
>>> -- Erstellt mit Operas revolutionärem E-Mail-Modul:
>> Ms. Sylvie Ruelle
>> rw_artette_lc at yahoo.com
Erstellt mit Operas revolutionärem E-Mail-Modul: http://www.opera.com/m2/
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