In the third part of his series on the history of money, Adam Booth looks at the growth of finance, the development of banking, and the role of credit within capitalism. As Adam stresses, the economic problems we face today lie not with an overbloated finance sector, greedy bankers, or a lack of credit, but with the anarchic, chaotic, and crisis-ridden capitalist system.
In the second part of his series looking at the role of money within capitalist society, Adam Booth explores the questions of value, alienation, and profit in order to develop a more in-depth understanding about the nature of money.
There are at least a quarter of a million words in the English language – although some estimates suggest a far higher number – perhaps a million or more (according to the Global Language Monitor, January 2014 and the more recent Google/Harvard Study). Whatever the true figure might be, it is clear that English has more words than any other European language. This is the result of its peculiar historical evolution.
The age of Shakespeare was also the age of Machiavelli. That brilliant Italian philosopher was the man who first explained that the conquest and maintenance of political power has nothing to do with morality. The state itself is organised violence, and the seizure of state power can only be brought about by violent means. Moralists have given the Italian philosopher a very hard time, but history has shown that his analysis was basically sound.
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