Stone Money—phillygirl

A big limestone wheel is different from an electronic bank balance, but they’re both considered money because the limestone wheel is equal to the same worth of money. As “The Invention of Money” mentions, ‘the stone money at the bottom of the sea, it exists. It’s still good money. Someone owns that stone even though it’s sitting on the bottom of the ocean.’  A limestone wheel and money is completely equal. Now an electronic bank balance is different because all it is digits informing you of how much money you have. Meanwhile a big limestone wheel is physically money. However, you can exchange money from your electronic bank balance to buy a big limestone wheel and it’ll be considered an equal exchange. For example, in stonemoneyessay.pdf  they say “After concluding a bargain which involves the price of a fei too large to be conveniently moved, its new owner is quite content to accept the bare acknowledgement of ownership and without so much as a mark to indicate the exchange, the coin remains undisturbed on the former owner’s premises.” Which is saying an exchange with money and a limestone wheel is equally the same.

My thinking of money before today’s reading was that money was a very powerful thing. If you owned a certain amount of money then you were considered a dominant person. If you’re known to have a lot of money then you know that you’re doing the right thing in life. In my opinion, after learning about money I think it is pointless. Regardless of how much money you have, it doesn’t determine anything because it’s technically not there. You never actually get money in your hand, you barely see it. You just get a little receipt that indicates that you have money. I don’t think money is important as it seems. Money is just a factor in life that is considered to help us get by. In “The invention of money” the author explains that money is fiction. They mention, ” It is not physical, it is just numbers going back and fourth online.” In “Why Money Has No Real Value?” Christianson says, “Otherwise, the money just sits as useless piles in a bank vault somewhere.  It is the entrepreneur that gives value to any dollar investment, not the other way around.  The bottom line is that people and their abilities have real value, and money does not.” My view on wealth has also changed because I’ve always the goal in life was to become wealthy. Everyone wants to become wealthy. But after learning this, becoming wealthy is a waste of time honestly. You become as wealthy as you can get for you not to see or spend your money the way it is you want to be seen or spent. You barely see your money because as “The Invention of Money” explains you get your hard earned money direct deposited into your account and you pay your bills electronically. So you never really experience the feeling of hundreds of dollars actually being in your hands so it’s like you never earned it to begin with. After learning about what money really is about, that changed my perception on my faith in things I never see as well. In my opinion, if I don’t see it then it was never there.

Works Cited

Friedman, Milton. “The Island of Stone Money.” Diss. Hoover Institution, Stanford University , 1991.

“The Invention of Stone Money.” 423: The Invention of Stone Money. This Is American Life, WBEZ. Chicago . 7 Jan. 2011.

Christianson, Darren. “Why Money Has No Real Value?” 5 Aug. 2015.

3 thoughts on “Stone Money—phillygirl”

  1. It’s 4am MON OCT 02 and I don’t see your Stone Money Rewrite, PhillyGirl. Your Stone Money post needed a very thorough rewrite, so I’ll be concerned if this assignment doesn’t come in today. See me before, during, or after class (or text, email, or respond here) if you need to share. Response required. Let’s stay on top of deadlines early before they turn into trouble, please.

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  2. Hey, PhillyGirl,

    This is only 500 words and contains a substantial number of grammar and punctuation errors. You’ll need a good strong 1000 words for your Stone Money Rewrite, and if I show you how to correct your errors, I hope you’ll eliminate them as you revise and expand your A05.

    A good essay will devote a paragraph to every main idea, and most will contain five to ten such ideas, so expect your Rewrite to be no fewer than 5 paragraphs, well organized so that every sentence supports the main idea of its paragraph.

    A big limestone wheel is different from an electronic bank balance, but they’re both considered money because the limestone wheel is equal to the same worth of money.

    You’re right to say that both a big rock and an electronic bank balance are money in their respective cultures, PhillyGirl, but the rest of your sentence is very unclear. I have no idea what you mean by “the wheel is equal to the same worth of money.”

    As “The Invention of Money” mentions, ‘the stone money at the bottom of the sea, it exists. It’s still good money. Someone owns that stone even though it’s sitting on the bottom of the ocean.’

    You’re introducing some material from our sources, PhillyGirl, without preparing readers to know their context. You cannot assume that everyone has read what you have read. Your job as the author is to PROVIDE your readers with the background material needed to understand your argument. Put yourself in the reader’s situation now. What will she think you mean by “the stone money at the bottom of the sea”? She won’t get it at all.
    PUNCTUATION: You need DOUBLE QUOTES, always, around the direct quotation (as I have done in the sentence above). The ONLY USE for single quotes in your essays is when a quote is contained within another quote.

    A limestone wheel and money is completely equal.

    You’ve just made almost the same claim in your first sentence, PhillyGirl. You’ve only written 500 words, so you shouldn’t be wasting words repeating yourself.

    Now an electronic bank balance is different because all it is digits informing you of how much money you have.

    I’m trying to follow, but you seem to be confusing yourself. In your first sentence you said the WHEEL and the ELECTRONIC balance were DIFFERENT but that they were BOTH MONEY. Now you’ve said that the WHEEL is MONEY, but the ELECTRONIC balance ISN’T MONEY. It’s just a record of money, I guess.

    Meanwhile a big limestone wheel is physically money.

    So, this is three sentences now to make the one claim that a WHEEL is MONEY.

    However, you can exchange money from your electronic bank balance to buy a big limestone wheel and it’ll be considered an equal exchange.

    So, if I understand correctly, we can use our electronic bank balance to BUY a WHEEL because they’re both MONEY.

    Here’s what I think you mean by all these sentences, PhillyGirl. Every culture has markers for VALUE or BUYING POWER that we can call CURRENCY. In America, the currency is DOLLARS. On Yap, it’s FEI. Dollar bills are physical, but dollars can also be represented electronically, or on a magnetic stripe, or by checks, for example. So DOLLARS can be converted to FEI just as they can be converted to EUROS or YEN. In that way, the limestone WHEELS and physical DOLLAR BILLS are the same: they’re both currency. Dollars (and all other modern currencies) can also be represented electronically. But whether the markers are physical or electronic, they all represent MONEY.

    For example, in stonemoneyessay.pdf they say “After concluding a bargain which involves the price of a fei too large to be conveniently moved, its new owner is quite content to accept the bare acknowledgement of ownership and without so much as a mark to indicate the exchange, the coin remains undisturbed on the former owner’s premises.”

    MECHANICS: PDF is not the source you want to cite here, PhillyGirl. You’re quoting “The Island of Stone Money,” by Milton Friedman. You should call it that. I’m not quite sure where you’re going with this quote, but I’m intrigued.

    Which is saying an exchange with money and a limestone wheel is equally the same.

    I’m still not sure what you mean. You could be saying that MONEY changes hands without so much as a mark, and without the money physically moving (as when we use Paypal to pay the rent). But the big difference there is that the limestone WHEEL does physically exist, and for the people of Yap, it is a satisfactory MARK of wealth. So, no, MONEY and a WHEEL are not “equally the same.”

    That all sounds very critical, I’m sure, PhillyGirl, but I’m not saying anything to you here that I haven’t suggested to your classmates. I’m going to back off a little for your second paragraph and concentrate on matters other than your argument.

    My thinking of money before today’s reading was that money was a very powerful thing. If you owned a certain amount of money then you were considered a dominant person. If you’re known to have a lot of money then you know that you’re doing the right thing in life. In my opinion, after learning about money I think it is pointless. Regardless of how much money you have, it doesn’t determine anything because it’s technically not there. You never actually get money in your hand, you barely see it. You just get a little receipt that indicates that you have money. I don’t think money is important as it seems. Money is just a factor in life that is considered to help us get by.

    This is the natural breaking point for a paragraph, PhillyGirl. These sentences focus on a single main idea and should be separated from the “money is fiction” material that will follow after.
    STYLE: We do not address our readers as YOU, PhillyGirl. I’ve been pretty clear about this, so please eliminate all YOU, YOUR, YOURSELF and YOURS from your Rewrite. The simplest solution is to refer to a group of people. For example, we don’t write:

    You’re more likely to be ticketed for speeding if you’re a teenage driver.

    Instead, we simply say, without any YOU language:

    Teenage drivers are more likely to be ticketed for speeding.

    OK?
    Now, let’s look at your style for a moment. Your paragraph uses nine sentences to express that you used to overvalue money. How could you have said so in fewer words?

    Money in our society conveys power and dominance. It even suggests the rich have made good life choices. The Yap at least had huge rocks to display their wealth, but ours is mostly invisible. We see our balance on a computer screen or an ATM receipt. The whole concept is so fictional, it’s hard to imagine why we consider it so important. It’s just a way to get by.

    I’ve created another paragraph break for you, PhillyGirl, following the natural flow of your argument. This is the next paragraph:

    In “The [I]nvention of [M]oney” the HOSTS EXPLAIN that money is fiction. They mention, “It is not physical; it is just numbers going back and FORTH online.” In “Why Money Has No Real Value?,” Christianson says, “Otherwise, the money just sits as useless piles in a bank vault somewhere. It is the entrepreneur that gives value to any dollar investment, not the other way around. The bottom line is that people and their abilities have real value, and money does not.”

    This material is certainly worthy of a well-developed paragraph, PhillyGirl. You don’t actually provide anything of your own thinking though. You just quote two sources with different positions. The American Life hosts are merely pointing out that MONEY, which we used to think of as physical bills and coins (or nuggets, or shells, or limestone rocks), is now almost completely virtual. That doesn’t mean it’s meaningless. We still use our wealth to buy goods and services even if we don’t hand over lumps of gold for them. Christianson, on the other hand, means something very different. He means a lump of cash or a big electronic bank balance is USELESS in the sense of NOT ACCOMPLISHING ANYTHING until it’s invested, or spent, to provide an incentive for others to act. Money is USELESS until it gets something done. Those two very different ideas are both worthwhile and deserve your explanations, comparisons, expansions, illustrations, analysis. They might even be worth two paragraphs, but so far all you’ve done is quote them.

    This is the final paragraph as things stand now:

    My view on wealth has also changed because I’ve always the goal in life was to become wealthy. Everyone wants to become wealthy. But after learning this, becoming wealthy is a waste of time honestly. You become as wealthy as you can get for you not to see or spend your money the way it is you want to be seen or spent. You barely see your money because as “The Invention of Money” explains you get your hard earned money direct deposited into your account and you pay your bills electronically. So you never really experience the feeling of hundreds of dollars actually being in your hands so it’s like you never earned it to begin with. After learning about what money really is about, that changed my perception on my faith in things I never see as well. In my opinion, if I don’t see it then it was never there.

    I’m curious whether you actually mean this, PhillyGirl. I don’t understand why anything in the Stone Money material would change your opinion about the value of wealth. What you say about touching and feeling today’s money is certainly true, but Yap who wanted to be wealthy when wealth was stones didn’t really care about the stones, did they? They wanted the power to buy goods and services. They wanted the security of knowing they could always pay their bills. We do that now without stones, and wealth still conveys those same advantages even though it’s mostly virtual currency now. Isn’t that accurate?

    I hope I’ve impressed you with the necessity to put more serious academic thought into your writing, PhillyGirl. I won’t always be able to spend this much time on your drafts, so please take these recommendations to heart on future assignments as well.

    And please, examine the posts of some of your classmates for additional models of the amount and quality of analysis that’s going on in the class.

    I’d appreciate your response, please.

    Like

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