What is Money?

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Mike Sosteric (Dr. S.)

Just another loud mouth sociology professor, teaching sociology courses at Athabasca University. Check me out here at the Socjourn, over there at The Conversation and at academia.edu.

6 Replies to “What is Money?”

  1. Greetings,

    In your article, you mentioned that money “does not appear out of thin air.”

    Are you completely sure about that?

    Do banks not create money ‘out of thin air’ these days…

    I suppose the burden of proof is on me at the moment, however, do you disagree with my assertion?



  2. Hi J.K.

    You are absolutely right. The family does produce money out of thin air, but they shouldn’t. Producing money out of thin air like they do (i.e. printing through the central banks), is a bad way to deal with certain “economic problems” that arise.

    I talk about this in part two of the book. I’ll be posting the entire thing here for free in a few days so you can have a look at that when it’s done.

    In the first part of the book I’m emphasizing the nature of money. Money itself doesn’t appear out of thin air but is tied to labour value always. So its not a random thing, ideally. That changes though when things get out of hand and printing money becomes a viable option to a worsening economic crises.

    Its all explained in the book. Like I said, give me a few days and I’ll post it here.

    1. Dear Dr. S,

      Thanks for your reply.

      Looks like I may have jumped the gun a bit, hey?

      Best of luck with your upcoming book.



  3. Thank you for this enlightening article, I completely agree with this, money is not the source of all evil implanted in this world but rather due to the egotism, and lack of human connection which man withholds. I believe this would carry on, regardless of we monetised our society or not.

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