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06759_Field_TCUM T324.txt
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1996-04-10
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include the function of money. Some work has been done to
some material, if only in bringing it from a distance. The object,
then, stores work and information or technical knowledge to
the extent that something has been done to it. When the one
object is exchanged for another, it is already assuming the
function of money, as translator or reducer of multiple things
to some common denominator. The common denominator (or
translator) is, however, also a time-saver and expediter. As
such, money is time, and it would be hard to separate labor-
saving from time-saving in this operation.
There is a mystery about the Phoenicians, who, although
they were avid maritime traders, adopted coinage later than
the landed Lydians. The reason assigned for this delay may not
explain the Phoenician problem, but it draws sharp attention to
a basic fact about money as a medium; namely, that those