Thursday, December 4, 2014

Money Wisdom #315

"If all production becomes the production of exchange value, if all evaluation seeks to determine a price, then the social field of evaluation decays toward an equilibrium point of perfect consensus based on the primacy of money. This utopia of the perfect market is a kind of moral heat death, where value no longer needs to be created and all needs or demands become arbitrary whims. An equilibrium point is not merely a moment of balance, when supply meets demand. An equilibrium point is also a moment of maximum entropy, when information has been destroyed. There is no possibility of tracing a movement back from equilibrium to its initial conditions, for the information concerning initial conditions is progressively eliminated in the approach to equilibrium. The marketization of society effects the progressive annihilation of history, culture and value."

Philip Goodchild Theology of Money (2009) p.190

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