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| Authored by: darrellb on Tuesday, October 09 2012 @ 05:51 PM EDT |
| The funds in my bank account are not abstract. [ Reply to This | Parent | # ]
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| Authored by: Anonymous on Wednesday, October 10 2012 @ 06:42 AM EDT |
Yes. Manipulation of funds is math - and has been since at
least 1445, when Pacioli described double-entry bookkeeping.[ Reply to This | Parent | # ]
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| Authored by: Anonymous on Wednesday, October 10 2012 @ 12:34 PM EDT |
And yet, I've paid for a house with such an "abstraction" by
"wiring the funds". No one wrote any physical check; no one showed up
with a suitcase of cash. But, the house was purchased just the same.
This argument is silly. You can turn these "abstractions" into
physical dollars if you want.
But, the truth is, most of the time, most money is not in tangible form. So
what? It isn't any less real.
Moreover, you can turn your balance into cash whenever you like. So, it's sheer
sophistry to pretend there is something "mathematical" or even
"abstract" about one's bank balance or manipulating it in the
computer. Manipulating one's balance is entirely equivalent, in the real world,
to counting out physical money.
[ Reply to This | Parent | # ]
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