Wednesday, October 29, 2014

Money Wisdom #303

"The value of assets is determined by speculative projections. Moreover, even if these anticipations prove misguided, at every stage the value of assets is determined by the next wave of anticipations about the future. Thus the future never ultimately arrives; it is purely ideal. Financial value is essentially a degree of hope, expectation, trust, or credibility. Just as paper currency is never cashed in, so the value of assets is never realized. It is future or transcendent. Being transcendent to material and social reality, yet also being the pivot around which material and social reality is continually reconstructed, financial value is essentially religious."

Philip Goodchild Theology of Money (2009) p.12

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