The actual value of money

[iipsteve]

I have heard it called the ECONOMIC SCOENCES, however the sciences I am familiar with all have accepted measures like cms, kilos, newtons, etc.
I can’t see money as being a reliable measure of anything, therefore economics cannot be considered a science.

[admin]

Hi IIPSTEVE. Actually MMT gives us a clue. There are 1600 working hours a year, and there should be a minimum wage per hour. So Economic Science seems to be based on LABOUR ( maybe not how Marx meant) but without labour the whole economic system would not work. The companies selling goods and services need people to earn money to be able to buy the services.

[Author]

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