This note is a part of my Zettelkasten. What is below might not be complete or accurate. It
is also likely to change often.
Before the Currency based market-economy came into being, society was organized by a mixture of Moral Economy, Caste System/Family System, Local governments and Smaller, localized markets. Is this a step forward?
Today, we trust the market to fulfill our needs. Currency is a standardized unit of value in this market. We dont need a moral economy to police transactions, markets determines the rate of exchange and if there is sufficient competition, it is fair. We do not need the rigid caste systems for the purpose of defining our place in society, the amount of currency we control handles that part. Nor do we keed large families to distribute risk and effort - currency can buy goods/services and can act as a cushion for risk. As long as we have currency, the current system takes care of our needs.
Governments play their part in upkeep and governance of markets.
The supply of currency is controlled by the Government and banks (and counterfieters). Whoever controls the currency, controls the markets and whoever is dependant on it. A simple illustration of the same:
I own the currency supply. If I print more of the same currency, I can pay more of the currency in exchange for a good, causing inflation.
The problem is that these institutions are controlled by humans, usually the elite.