Saturday, April 17, 2010

Thoughts On Currency

In chapter five when Aristotle used currency to discuss reciprocity in the larger conversation of what justice was, it struck as very ironic, that he would use currency, a thing which has caused so much injustice in the world, to show how justice operates. Interestingly enough his descripition of currency made very good sense, and seemed in all regards to be just. So how is it that an idea such as currency, which should facilitate justice, often does just the opposite.

Of course the obvious answer is that even though the idea of currency is a great idea and works theoretically we humans, who have proven ourselves to be something other than just, screw it up more than we get it right. The idea of currency is lacking an important component that humans are supposed to supply, but most often fail to: decency. So my question is this, can anything be done to implement decency into the model for currency that we currently use? If indeed currency is just an institution we have created to facilitate justice, could we make it better?

I wonder if governing systems such as communism try to address this issue, but I think history has proven that communism doesn't work. And rather than amending our current model for currency communism gets rid of it. So a new political system is probably not the answer.

Anything else that I come back to revolves around people having virtue when using currency. But maybe there is some way to handle currency that would make it more decent. Any thoughts?

1 comment:

  1. I was very confused by the mentioning of currency. I did not fully understand what Socrates meant by this statemment.

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