|
Numismatics
There are many fine numismatic collections in museums, several
have been noted elsewhere.. The International Monetary Fund has
an excellent display of current fiat. There is no deep educational
or artistic need to compete with the many other fine collections
(such as that of the Smithsonian). What is needed is a reasonably
broad collection with prime emphasis on societal, historical and
economic context rather than numismatic detail and rarity.
Land, Gold and Precious Metals
The history of land, gold and other precious metals merits separate
treatment as a central exhibit in human use of stores of value.
The economic legal history of the public and private appropriation
of land together with the accounting conventions for the "infinitely
lived nondepreciable asset" must be covered. The history of
gold first as a barter means of payment then as formal coinage over
the sweep of 3-4,000 years must be covered. Why metals? What other
metals have been used? Silver, Platinum, Copper, Aluminum and alloys
have appeared as coinage. The history and the reasons for the many
physical properties of coinage (many of which are described by Jevons)
must be displayed.
Displays on the technology and costs of producing money must be
included as well as the nature of seignorage.
Production, Skills and Human Capital
The biological and economic concepts of competition, production
and reproduction raise many important fundamental questions concerning
motivation and survival. Humans from one point of view are a resource
in the production process like coal or any other input. But from
another point of view they have been highly differentiated in their
economic treatment. Since the abolition of slavery and serfdom individuals
are not for sale even though their services may be for sale.
The rate of interest is intimately related to both population growth
and intergenerational concern. The higher the concern, the lower
the interest. The exhibition will treat the history of slavery,
serfdom and labor through the evolution of wage markets. The concepts
of physical capital and human capital and the age and reproduction
structure of both will be illustrated.
The various concepts of "survival of the fittest " including
an examination of the ability of mankind to influence as well as
just adjust to its environment. The thinking from Malthus on to
the current sociobiologists and game theory applications to biology
will be illustrated. The close relationship between a dynamic and
evolving economy and the basic aspects of biology have been seen
for many years, but recently the connection between the central
problem of the intergenerational transfer of resources in all species
has been recognized as simultaneously a central problem in biology
and economics. |