The author suggests that the money is reinforced by the
history and sociology that favors efficiency over equity, competition over
collaboration. Then the author uses his personal experience to illustrate that
money and financial transactions are inseparable parts and factors of daily
life. He used to think money was a numeric system to count, without any special
expressions or meanings. As he grew up, he came to see money as a creation and
extension of the human psyche, and as a function under the control of
government. The money system itself has and is the meaning. It is the genius
and tyranny of human invention. Money is
also an abstract concept. The author uses buying a new car as an example. The
price of the car drops right after the car leaves the dealership, even though
the car remains the same.
In each transaction, there are four components: the
physical, the participatory or circulatory, the quality of feeling, and
consciousness. If I can recognize what I have been affected by money, I can
understand how my financial behavior is governed by those unconscious
attitudes, needs, and desires. Factors such as the parties involved in the
agreement of a transaction and the purpose of a transaction determine the
transaction’s nature and qualities. Despite the forms of the transaction,
(cash, credit, check, etc.) the value is always transferring from one to the
other. This interdependent and circular activity is going on forever. Value is
a highly subjective and perception-driven factor, yet it is a real experience
generated by one’s feeling. Based on instinct, feeling or personal values, I
can assess the perceived financial value.
Consciousness can be achieved after seeing that connection
between the community interest and the self-interest. Recognition and
consciousness do not operate in the quantifiable in accounting or math. Since
money moves around the world without stopping, every human being is involved
and put his own consciousness on it. In the real economic world, we are all
interdependent and within the circulation of money.
This chapter is really difficult to understand. We tried our
best to summarize this chapter based on our understanding. We found it
interesting that the author talks about the possibility for participation in
consciousness level, i.e. imparting the consciousness and love through the
physical level of the money, i.e. our participation in the circulation of
money.
I too am pretty confused by the consciousness section and what exactly it means. I'm also not sure how cooperation and collaboration would work in the world of money.
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ReplyDeleteYeah this chapter seemed pretty crazy, but I like how Bloom talks about money as a construct of the government that we just go along with.
ReplyDeleteI feel everything that is made by human is an externalization of human mind. Let there be light, so god sheds light on everything. Let there be a computer, so human creates computer. Let us be humane, so we create a legal society where is studded with monetary systems, exchange systems, farmer's markets, etc. Society is a continuation of our psyche, because we are what we do.
ReplyDeleteI think you have done a pretty good job in summarizing this chapter. I even wonder if the author himself understand what he has written. He might just make it too deep and poetic for us to interpret in many different ways.
ReplyDeleteThis chapter seems really confusing, boy am I glad I didn't have to write about it!
ReplyDeleteI think every chapter in this book is hard to understand.
ReplyDeleteAfter reading your first sentence, I'm totally lost already.
ReplyDeleteThe money is a way a record or representing the values. like a billionaire, he is a normal guys who just have high number of net worth. the money for him is just numbers.
ReplyDeleteValue is highly Persetion driven. This something a lot of people ignore. It is interesting that something as mathematically determined is athe end subjective and relative
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