Sunday, August 31, 2014

Money Wisdom #296

It has been said that the divine principle, after having created the elements of the world, withdrew and left them to the free play of their own powers, so that we can now speak of an objective cosmos, subject to its own relations and laws; and further, that the divine power chose this independence of the cosmic process as the most expedient means of accomplishing its own purposes for the world. In the same way, we invest economic objects with a quantity of value as if it were an inherent quality, and then hand them over to the process of exchange, to a mechanism determined by those quantities, to an impersonal confrontation between values, from which they return mulitplied and more enjoyable to the final purpose, which was also the point of their origin: subjective experience. This is the basis and source of that valuation which finds its expression in economic life and whose consequences represent the meaning of money.

Georg Simmel The Philosophy of Money (1907 [1990]) p.78-79

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