This question <561-4|563-13> overall <561-4|561-6> MarxMaximus: <563-1|563-1>.

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

[561-5] MarxMaximus: I originally thought that hoarding was done for one reason alone, that is to protect against future loss, but there are other reasons than that alone. Marx talks about the need to hold fast to the commodities one has when circulation stops. That is where I got my original idea. Consumers save or hoard so they will have something if the day ever comes when they can't go out and buy new things which they need. Something like a natural disaster or the big storm we recently experienced, can cause problems if we can't get to the store and we don't have any food at home. If we had hoarded a little extra we would be alright.

People also hoard for the status symbol having great amounts of wealth creates. Or as Marx says they become “social expressions.” Oddly enough it is usually the rich capitalists who can afford to hoard in such a manner and not the laborer.

Hans: You are talking about stockpiling goods, while Marx was talking about hoarding money.

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