33 lines
1.2 KiB
HTML
33 lines
1.2 KiB
HTML
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<!DOCTYPE html>
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<html lang="en">
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<head>
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<meta http-equiv="Content-Type" content="text/html; charset=UTF-8">
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<style>
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body {
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max-width: 30em;
margin-left: 2em;
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}
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p.center {text-align:center;}
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</style>
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<link rel="shortcut icon" href="../rho.ico">
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<title>Value and Exchange</title>
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</head>
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<body>
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<p><a href="./"> To Home page</a> </p>
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<h1>Value and Exchange</h1>
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<p>An exchange of value consists of a contract to exchange ("trade"), two
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transfers of value (value for value), coordination problems
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("settlement"), and dispute resolution services ("failure").</p>
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<p> Hence, reliability of exchange is dominated by reliability of transfers.
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And, transfers of value are dominated by reliability of basic issues of
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value, including storage.</p>
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<p> What might be seen as sort of semantic short-cut is that a value system
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may be considered reliable if and only if it can participate in an
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exchange. </p>
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<p> </p>
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<p style="background-color : #ccffcc; font-size:80%">These documents are
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licensed under the <a rel="license" href="http://creativecommons.org/licenses/by-sa/3.0/">Creative
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Commons
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Attribution-Share Alike 3.0 License</a></p>
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</body>
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</html>
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