Thursday, October 16, 2014

Interest and Meta-Language

Money can be conceived as a Language of Economic relations--a commonly accepted symbolic system serving to communicate purchasing power.  Likewise, Money has its meta-Language--Interest, i. e. of which it itself becomes an object of representation, and, just as a meta-Language can, in turn, become the object of a meta-meta-Language, Interest can be recursively compounded.  However, while Logicians endeavor to maintain a distinction between strata, that of Principle and Interest is usually merely nominal, the actual conflation of which is perhaps best exemplified by the 'underwater mortgage'.  Thus, the Macroeconomic collapse set in motion by a proliferation of cases of the latter can be conceived as an expression of Illogic.

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