Galt's Gulch
11

"Money is only a tool. ... " - Ayn Rand

Posted by GaltsGulch 7 years, 7 months ago to The Gulch: General
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"Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver." - Ayn Rand

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  • Posted by $ MikeMarotta 7 years, 7 months ago
    Money is a store of energy. We commonly learn that money has three functions: a store of value, a medium of exchange, a unit of accounting. Karl Marx and Ludwig von Mises both claimed that historically money began as a medium of exchange, but that is not correct. The root of money is in accounting, which is also the origin of writing. http://necessaryfacts.blogspot.com/20...

    What is said for money can be said for writing: it will give you the ability to record your thoughts, but it will not replace you as the thinker.
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  • Posted by $ jbrenner 7 years, 7 months ago
    I agree that money will take you wherever you wish and that it will not replace you as the driver. HOWEVER, money is much more than just a tool. Procurement of capital is usually the rate-determining step in the successful development of an invention to a profitable product.
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    • Posted by $ MikeMarotta 7 years, 7 months ago
      You get a lot more than money with investors. That is why venture capitalists are better partners than the government. The movie Something Venturedl has the subtitle, "Writing the Check is the Easy Part."

      "These were companies with a lot of things missing. And our approach was always, β€˜Is our Rolodex strong enough to help these people?’” -- Don Valentine. When Jobs and Wozniak ask Don Valentine what they needed, he told them to get someone who knows marketing and he sent over Mike Markkula.

      See here: http://necessaryfacts.blogspot.com/20...
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  • Posted by Herb7734 7 years, 7 months ago
    It is a tool without which commerce cannot be conveniently done. It's value is assigned by mutual consent to stand for the true wealth which is commodity or service. Without the agreed value of what the money represents, it is merely shiny metal or printed paper or polished stones.
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  • Posted by chad 7 years, 7 months ago
    If money is not a store of value that others are willing to trade for then its value becomes arbitrary and impossible to track or use as an accounting to pay for goods. Fiat currency robs you of the ability to store it and save it for later or to plan for its value at any given time. Fiat currency guarantees that you must work all the time and you must find a method to increase your earnings at all times just to stay even with where you started.
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