Ch. 2 Coining A Myth
Chapter 2 uses the Greek myth of “Titian: Danae and the Shower of Gold” to tell us that ancient myths have an underlying meaning that transcends the truths of life through the use of symbolism and story-telling. They describe human character and human action. The powerful thing about these myths is that they are timeless. The Greek myth tells the story of Danae who was a princess of Argos, the only child of King Acrisius and Eurydice. Acrisius visits the Oracle and finds out he will be killed by his future grandson. So, to prevent this from happening, he locks Danae and her servant in a chamber. Then Zeus discovers of Danae’s confinement and falls in love with her and impregnates her in the guise of a golden shower. Titian uses the analogy of golden “coins” as a symbol of power and money. Money and power allow you to open doors that are closed to most and get almost anything you want. Interestingly, Danae was seen in the Middle Ages as an example of how feminine beauty and moral virtue can be tainted by the corruption of wealth. Today, that analogy still holds true as money and power go hand-in-hand.
The part of the Greek myth that confused me was when Acrisius found out Zeus had impregnated his daughter, Danae. She bore a son Perseus. Acrisius then put Danae and Perseus in a wooden chest and leaves them to die in the middle of the sea. After going through all that trouble of going to the Oracle and knowing that he would be killed by his grandson, why did he leave it to chance? He could have undone the prophecy by taking the life of his daughter and grandson by his bare hands. I like this story because it reminds me of Aesop's fables. They both tell of human faults and yet mankind seems to repeat the same mistakes over and over again. Will we ever learn?
Ch. 14 The Touchstone and the Labyrinth
This chapter was a little confusing. I had to read it 3 times. Im not sure I fully understand it but I will give it a shot. Basically, the chapter is talking about money as a physical and spiritual entity. John Bloom has deduced that “money is a medium of expression” and one that makes the “invisible visible.” Money is abstract and it’s value comes from what we assign to it. The analogy he uses to explain this duality of money is the labyrinth and the touchstone. The labyrinth represents a horizontal plane (physical aspect of money like using it for buying material objects) and vertical plane (spiritual aspect of money like the value we assign to it). Bloom relates money to language as a “medium of exchange (horizontal) and a measure of value (vertical).” They each require the other to have a whole meaning. The way I make sense of the labyrinth is by comparing it to human nature. Humans need water, food, shelter, etc in order to go on living. We can live a very fulfilling life. Then religion would be like the spiritual aspect in that our lives have a deeper meaning or purpose than just making money and then dying. I’m not advocating you need to be religious in any way, shape, or form. That is just how I make sense of this complicated chapter.
The other half of money Bloom talks about in this chapter is money as a touchstone. In recorded human history, minerals and precious metals have been given relative value by comparing it to other metals and mineral i.e gold, silver, copper. To determine their value or purity, they were tested with acid. By the progression of increasingly concentrated acid, value was assigned to these various metals. This in part is where gold gets its high value from. Basically, it’s a litmus test (for those who have taken Chemistry). Bloom talks about the touchstone as a path to which humans develop a relationship with money. It requires we really think about what we are spending our money on. However, this thoughtfulness has dissipated and we now spend money quickly, effortlessly. We even spend money we don’t have (credit). The term he uses is “flat money.” Look at today, there is no real currency, no standard we can compare to. This is due to having no gold standard since President Nixon. Because of flat money, he says we lose our understanding about the material value of money. After reading Bloom’s Ch. 14 thoughts on money, it’s hard to disagree with his point. I can see what he means when says we have lost touch with the value of money. We do not really spend money wisely just look at everyone who buys Hoverboards. Personally, I think they are a waste of money. Can you recall the last time you spent money on something you didn’t really need but did so anyways just because you had the money. Anyway, those are my thoughts on this chapter. I hope my blog makes some sense.
I've definitely heard of the Danae and the Shower of Gold Greek myth before. I find it so hard to keep track of all of their names but the stories are always so fascinating. It's also interesting to see how they have been incorporated into so many modern story lines. As for Chapter 14, I lost you in the middle of your first paragraph. Definitely seems like a hard chapter to understand. Glad I wasn't assigned it haha!
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ReplyDeleteChapter two seems interesting, and I suppose I can somewhat see the connection between money and temptation. In chapter 14, I thought that it was called fiat money, not flat money?
ReplyDeleteIn my earlier comment I accidentally called it chapter 1, not chapter 2
I love greek mythology and am pretty sure I've heard this story before. The stories are always so interesting to me and I love trying to match each greek god to their specialty.
ReplyDeleteFor chapter 14, it sounds a lot like mine (I did chapter 15). It was so confusing and even reading your interpretation was hard to understand.
Interesting to see how back then people still associated money as the "key" to unlocking things in life and I get where you're coming from with the last part of the story, he could have done something really simple.
ReplyDeleteGreek mythology is definitely one of the more captivating topics out there. I hadn't heard this particular story before, but I found it really interesting.
ReplyDeleteIt definitely becomes very difficult for a lot of people to stop themselves from spending on unnecessary things when they find themselves in a surplus of money/
chapter 2: One question I have about the story is that if Zeus, by the power of money and authority, can get whatever he desires, why didn't he make Danae fall in love with him and then make children, but instead, impregnates her regardless of her will.
ReplyDeletechapter 14: The metaphor of labyrinth and touchstone is nuanced and insightful, which encourages to reflect on the way we live with money and the way we spend money.
Chapter 2
ReplyDeleteIsn't this book about money? I feel like it started talking about Greek culture.
Chpater 14
I agree that paper money is a way to make us easier to trades. Money used to be materials.
Chapter2:
ReplyDeleteChapter 2 seems interesting to read. I really enjoy how you have described the story well in your first paragraph, and then write down your opinions for the second paragraph. Maybe the grandfather feel bad if he kills his grandson in his own hand.
Chapter14:
Great job in summarizing this hard chapter for us! I like how you have taught us the term "flat money" (credits). Your thought at the end is also interesting to know about. :)
chapter 2 the Greek stories about the god kind interesting. i am curious about whether people can spend their money to buy whatever things they want.
ReplyDeletechapter 14 the sense of the possession of money and how to use it. from my point, the spiritual world seems does not need the money.
Chapter 2
ReplyDeleteAfter reading your paragraph about chapter 2r, I was trying to connect it to the title of the book " Money". I think the author is trying to tell us money cant buy your happiness
chapter 14
I totally agree "Money is abstract and it’s value comes from what we assign to it". Different people will spend their money differently because human being are rational.
"Money is abstract and its value come from what we assign to it"
ReplyDeleteI think that a lot of people do wrong thinking that money as an absolute value.
A big secret for me is that
Is not true that 5 dollars are a small amount and 5k are a big one.
It depends by the trade off, by the consequences, by the real value of what your are taking in change of that money.
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ReplyDeleteChapter 2:
ReplyDeleteI studied Latin and Greek culture at school really in deep, and what always amazed me is the endless value of these myths and works take aways...
It is one of the biggest demonstration of human equality ... No matter time, race, color, religion, people had and have some values that are common that make them equal human beings.