|Zombie Money 20 is a drawing by Kevin Boatright which was uploaded on June 29th, 2014|
Labour, time and effort, is valuable. Barter enables the direct exchange of the physical products of labour. Currency is a medium to allow labour's value to be stored and exchanged when direct products aren't possible or desirable. Rarity doesn't create value, it increases the labour involved.
Labour is money. Labour is capital. Workers are capital not costs resources or costs. The labour required to produce a product determines its true value. This is true even if the labour is the planet's.
Great wealth is created by hoarding other people's labour, damming the flow of currency and raising the high water mark, drowning those below it. This raises inflation far swifter than raising the minimum wage and faster than the the minimum wage can keep up. Great wealth expands poverty not the real economy. Much of our growth since the 1980s has been an illusion.
Interest, especially compound, and other tricks and schemes of the financial sector create currency without equivalent labour and based on no actual resource, just money. These tricks only make it seem like the economy isn't a zero-sum game. Every resource, as well as labour, is finite. Value gets altered in form but not quantity. Traded not expanded. Labour however, does increase as our population does. Not infinite but with open potential. That means that capital has open potential and can potential fuel open-ended growth. Reagan's Neoliberalism was built on smoke and mirrors for the purpose of fooling the Soviets into defeating themselves through economic burnout. But the show still goes on and the world is paying. The illusion is generating a nightmare.
Energy is the ability to do work. It is life. Labour is energy is action. Currency without energy turns the financial system into a zombie plague creating a zombie economy growing by devouring the living. Eventually the hoard will turn on those who believe themselves its masters.
It almost happened in 2008, prevented only by a sacrifice of nations.