Saturday, April 4, 2015
thin
I do not think that money is a creature of law. But I do think that money, that engine of abstraction, is controlled by law in the way that valves control a steam engine. Law does not provide the heat, nor the steam, nor is it at the piston of production. But none of this would cohere into something as (relatively) tight and (relatively) stable and (altogether) ordered as a steam engine without the valves, nor would wealth cohere into so an economy as this without law. Of course, steam sees valves as interference.
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