Today's threads (a thread)

[pluralistic@mamot.fr]

Today's threads (a thread)

Inside: A perfect distillation of the social uselessness of finance; and more!

Archived at: https://pluralistic.net/2025/12/18/self-licking-ice-cream-cone/

#Pluralistic

(This is the last edition of Pluralistic for the year - see you in 2026!)

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[kevincarson1@kolektiva.social]

@pluralistic The only useful function served by capitalist finance -- a credit mechanism for facilitating coordination of future production streams between enterprises -- requires only a unit of account. The pretense that credit is "lent" "against" "savings," and the limitation of the credit function to those in possession of stockpiled wealth, is as stupid as requiring us to pay rich people for letting us use feet and inches.