Saturday, October 18, 2014

Interest and Conflation

The labor on, the use of, and the exchange of products is each a human activity.  Thus, the Economic patterns imputed  to the determinations of Labor-Value, Use-Value, and Exchange-Value are derived from Psychological and/or Moral ones.  In contrast, Interest entails a relation between Money and calendar Time, and, hence, is an inherently inhuman determinant of Economic Value.  Thus, the absence of a real, i. e. a not merely nominal distinction between what can be characterized as Value and Meta-Value, can be termed 'Conflation', an analytical failure, even if, like Inflation, the concrete conditions to which it corresponds are not necessarily malign.

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