We hardly need to be reminded that we are living in an age of confusion — a lot of us have traded in our beliefs for bitterness and cynicism or for a heavy package of despair, or even a quivering portion of hysteria. Opinions can be picked up cheap in the market place while such commodities as courage and fortitude and faith are in alarmingly short supply. | |
— Edward R. Murrow | |
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Non-Fungible Commodities
August 21, 2013 by kmabarrett
What does fungible mean? And are we living in an age of confusion? Maybe we are…it’s better than all knowing our place, i guess – I’m thinking about feudalism, for instance.
“Fungible” means readily exchangeable. For example in contract law if you agree to supply 50lbs of sand, and 50lbs will do (unless it’s spelled out exactly in a the contract). The same would be true for corn, wheat, or coal. In reality, we know that there are differences, but contractually, they would be the same if not specified in advance. 50 laborers would be the same, too, because all you need are 50 people. We haven’t specified skills or gender or height or strength or anything, so any 50 people will meet the contract.
Reblogged this on Places and Nature and commented:
cool