Conjecture

Part I reaches Hayek's conclusion independently and in the author's own words: money and value are a way of solving the problem of economic planning and allowing our society to self-organise. The thought experiment is the argument. Run last year's economic activity again with money removed, everyone doing the same jobs and the same shopping but nobody paying or being paid, and everything still happens and the same goods are produced; the only difference is that the economy could not have organised itself. So money is not the value. The value is the productive capacity and the stock of physical and intellectual capital, and money is the method we evolved to divide the spoils and to mark productive enterprise.

Coordination architecture