Money

Money is an abstract container for Labour Time (ref. RSGMONEY). Money is used instead of barter as a way of exchanging the labour of one person for another in economic exchange. Formally we may say that Money = Labour Time.

The value of all money in an economy is ideally determined by the amount of Labour Time that needs to be exchanged (ref. RSGMONEY).

See Also

Economy

→ Labour | Work | Labour Time

→ Barter | Money (Labour Value of Money / Labour-Exchange Value of Money)

→ Official Economy | Informal Economy | Underground Economy | Monetized Economy

→ Accumulation | Power | Debt | Global Crises

→ Social Class | The Baker's Story

Further Reading

Sosteric, Mike (RSGME). The Rocket Scientists' Guide to Money and the Economy. Lightning Path Press. More Info