# Episode 16 - The Metaphysics of Money

Page: https://stenobird.com/podcast/lend-hoping-nothing-podcast-6322350/episode-16-the-metaphysics-of-money
Text version: https://stenobird.com/podcast/lend-hoping-nothing-podcast-6322350/episode-16-the-metaphysics-of-money.md
Podcast: [Lend Hoping Nothing Podcast](https://stenobird.com/podcast/lend-hoping-nothing-podcast-6322350)
Published: 2024-04-10T16:54:41+00:00
Episode link: https://lendhopingnothing.substack.com/p/episode-16-the-metaphysics-of-money
Audio file: https://api.substack.com/feed/podcast/143453381/52fc778b26757772c8bebc4507bc3ad3.mp3
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JSON: https://stenobird.com/v1/public/podcasts/lend-hoping-nothing-podcast-6322350/episodes/episode-16-the-metaphysics-of-money
Duration seconds: 1869

## Resource

Three Modern Functions (Plus One) * Medium of Exchange * Unit of Account * Store of Value * Established by Convention/Law Account of Money * Necessity of exchange * Commutative Justice * Equality in exchange * How many shoes is a house? * Money enters as a measure of diverse goods * measure of human need or desire * Measure must contain that which it measures * Law - measures human behavior (definition of murder) * time - measures motion (clock) * Established by Convention Aristotelian Causes * Final Cause - Faciliate exchange (medium of exchange) * Formal Cause - Measure of value (unit of account) * Material Cause - Something valuable (store of value) * Efficient Cause - Legislator or Community agreeement Implications * In order to be money, a thing must be valuable * cigarettes are valuable before they become money * USD is valuable as a tax coupon * Bitcoin is not valuable and is a waste of time and energy * acts as money only as a sort of similitude * money as measure of human desire, but desire can be irrational * see podcast on economic value * Good Money - Final Cause * needs to be stable * needs to be apt to receive the form * easily divisible and transferable * Bank accounts * securities in themselves, but are not USD * Anything valuable in principle can be money * Money is not a different sort of thing, but a way of using things * All exchange is fundamentally barter This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit lendhopingnothing.substack.com

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## Transcript

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