When we exchange what we need, we use money as a medium instead of trading ‘goods for goods.’ In this context, money acts as a means of exchange. When we exchange what we need, we also build wealth by passing on added value to each other. In other words, money functions as both a medium of exchange and a measure of value, as well as a tool for accumulating wealth. But isn’t this a bit strange? Although exchange value comes from goods and surplus is generated from this exchange value, the object used to measure and accumulate wealth is money, not goods. This is because money alone has the privilege called ‘compulsory circulation power.’ In other words, even if value is created, added value cannot be realized unless it’s exchanged. The ability to enable such exchanges is what we call ‘compulsory circulation power.’ - Joseph’s “just my thoughts”
In the Old Testament, the book of Exodus, verse 8:9, depicts a scene where God promises Moses that Israel will escape from Egypt and be led to Canaan, the Promised Land. This is described as “a land where the rocks are iron and you can dig copper out of the hills.” This event took place during the Bronze Age civilization, but God mentions the resources that exist in the Promised Land, highlighting the transition from the Bronze Age to the Iron Age. Indeed, after migrating to Canaan, Israel established a copper mine to extract copper. The advancements in civilization and technology during this period hold significant historical importance for humanity. We are currently living in one of those transformative times. - Joseph’s “just my thoughts”