This question <557-18|561-4> overall <557-19|557-22> Copenhagen: <551|557-22>.

Question 402: Explain the economic necessity of hoarding, and the individual motivation for hoarding.

[557-21] Copenhagen: The economic necessity of hoarding is simple. Where commodities are exchanged for sale money appears to be restless and has no stopping because goods and money are constantly being exchanged. However Marx says that this is an illusion. Because once and awhile the movement stops and sales aren't supplemented with more sales and the exchange of money. Which in fact is what turns coin into money, according to Marx as soon as money is no longer the vanishing mediation between two commodities, no longer only its quantity, but its quality counts. At first commodities were of great worth because it took a while to produce those commodities, however now commodities are sold not only to replace their value but to replace their value in money form. The money is then petrified into a hoard according to Marx and the seller of the commodities becomes a hoarder of money.

During all the points of commodity circulation there are hoards created. While the production and sale of the hoarder's goods take time he must be able to buy without selling, and he must have previously sold without buying. But with the hoarding and storing up of exchange values comes greed. Which in turn makes hoarding an individual motivation. Because money not only conveys wealth, but it transforms its owner.

Hans: This is a close paraphrase of the Annotations, and I don't know how much of this you have understood. I told you several other times that you should use your own words.

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