Monetary exchange

I am willing to believe that physics is general in the seme that it implies that any event which consists of a monetary exchange (hence any event which falls under Greshams Law) has a true description in the vocabulary of physics and in virtue of which it falls under the laws of physics. But banal considerations suggest that a description which covers all such events must be wildly disjunctive... What are the chances that a disjunction of physical predicates which covers all these events. .. expresses a physical natural kind In particular, what are the chances that such a predicate forms the antecedent or consequent of some proper law of physics [Emphases original]... 

The trends in total world mine production rates from 1987 to 1992 are evident in Table 3. An 8-yr averaging shows ca 2% growth in annual consumption. The average price of nickel has varied from year to year the actual price more than doubled from 1985 to 1988. However, third quarter 1993 prices dropped below mid-1980 prices to < 4.50/kg. Based on the 1992 world nickel consumption level of 813,900 t and the average annual London Metal Exchange (LME) nickel price, the 1992 monetary value for the nickel mining and refining industry would be approximately 6 x 10 . ... 

In Britain, the security of the British pound had proved key to London s position as the financial capital of the world before World War I. As Sir William Harcourt, Gladstone s chancellor, wrote in 1892 London... is the Metropolis of the Commerce of the World to which all nations resort to settle their business. This I believe... to be owing to the soundness of our monetary system, London being the only place where you can always get gold. It is for that reason that all the exchange business of the world is done in London (quoted in Mayhew 176). But such optimism about the availability of gold was not always justified. 

The common monetary system prevailing in every land fostered trade and facilitated the exchange of products. Travelers never had to bother their heads about the currency of money any coin that passed in New York would pass for its face value in London, Paris, Berlin, Rome, Madrid, St. Petersburg, Constantinople, Cairo, Khartoum, Jerusalem, Peking, or Yeddo. It was indeed the Golden Age, and the world had never been so free from financial storms. (1900, 4-5)... 

For Marx the value-form is expressed in monetary prices. Labour-time embodied in use-values can only be socially validated as value when as commodities they are sold for money. Money is the form in which commodities appear as exchange-values in the market place. In their exposition of this value-form approach, Reuten and Wiliams (1989 53) conclude, In bourgeois society...labour and the products of labour are thus socially recognized as useful only by assuming the form of value money. ... 

If we consider firms as a whole, their only external purchase is labour force. All other exchanges being internal transactions, no further monetary payment is required. Only at the end of the production process firms buy capital goods to be used in the following period. 

As Marc Shell notes, however, hypothesis is inherently bound up with money. To make a hypothesis is to ask for credit that may be called in later, when a conclusion is reached and meaning exhausted. When Plato criticized the sophists, he simultaneously expressed anxiety about coinage—that is, as a division between symbolic and material value Was not even Socratic dialectic. . . pervaded by the monetary form of exchange Was not dialectical division a kind of money changing, and dialectical hypothesizing a kind of hypothecation, or mortgaging (Shell 2). 

The monetary aspects of gold have long dominated commercial interest in the metal. Gold through history has provided a common base from which the value of materials and services can be measured. Gold probably became a medium of exchange as early as 3400 8.C. 

Hongkong and Shanghai Bank. Benbow got his present job at the recommendation of the British-influenced International Monetary Fund, according to a source at the IMF s Exchange and... 

Peppercorns are, by monetary value, the most widely traded spice in the world, accounting for about 20% of all spice imports. The price of pepper can be volatile and this figure fluctuates a great deal year by year. The International Pepper Exchange is located in Kochi, India. 

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