lauantai 29. marraskuuta 2008

Market economy of one euro

Let us think about a village on a remote island. Market economy prevails there, but no other money than one coin, worth one euro, exists. The population consists of some farm masters, each of them employing several farm hands. More over, other kinds of occupations are found, too.

The value of the euro varies accordin to the next, should I say, law: when a farm master or any other socially high ranked person possesses the coin, it is worth of, say, a horse and three acres of good field. When a farm hand has sold his house and all that belongs to the house, he has got the coin. This time it is only worth of a pair of shoes and a bottle of spirits.

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