Money is a form of unaccountable power.

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Money is a form of unaccountable power.

It doesn't matter what you did to get the money; if you have a lot of it, you can make things happen.

(There's a small amount of accountability around what you do with it, but enough money makes it possible to hide from that as well.)

...and let's not forget that it's often easier to use money to make bad things happen than to make good things happen.

In fact, you tend to get more of it when you use it for bad things.

Remind me why this is a good system, again?

(originally posted here and here on 2020-06-12)

Woozle (talk)00:27, 19 July 2020

Steve Foerster wrote:

Because when people have tried out systems without the ability to acquire money, there's still unaccountable power, but also mass poverty, starvation, and death.

Woozle (talk)00:28, 19 July 2020

Morbius wrote:

And those don't exist in money-based societies?

Wikipedia: Great Famine (Ireland)

Woozle (talk)00:30, 19 July 2020

Morbius wrote:

So, going back to your initial premise: "Money is a form of unaccountable power", and considering it in light of what I've outlined [in this discussion]:

1. Are my contributions / definitions relevant?
2. Is a form of commonly-agreed-on exchange medium itself inherently a form of unaccountable power?
3. What would accountability in a monetary system look like? (Ignoring the obvious: that money is an accounting system, or at least, a major component of one.)

I'm ... generally ... of the view that the complaints you have actually focus far less on money than they do on accountability, and that you might want to put some thought into what the elements of an accountable system of power might be.

Components which might be included being:

  • Economic externalities.
  • Legal constructs -- rights and obligations.
  • Equitable distribution.
  • Addressing and redressing of grievances.
Woozle (talk)00:36, 19 July 2020