adkikani wrote:
nightblade354 generis ammuseeru pikolo2510 gmatexam439 GMATNinja Harshgmat KarishmaBCan anyone explain the contrast and if my understanding of highlighted text is correct?
Quote:
Economist: Money, no matter what its form and in almost every culture in which it has been used, derives its value from its scarcity, whether real or perceived.
OK, So as per economist: money derives its value when it is scare.
I CAN NOT ASSUME : money derives its value
ONLY when it is scare.
Quote:
Anthropologist: But cowrie shells formed the major currency in the Solomon Island economy of the Kwara'ae, and unlimited numbers of these shells washed up daily on the beaches to which the kwara'ae had access.
Anthopologist disagrees, saying that cowrie shells formed the major currency in the Solomon Island economy of the Kwara'ae
(so before reading further, I am assume he will say:
why these shells need to be ABUNDANT, since had shells been
short in resouces, then they CAN be a part of major currency and is in line with Economist. The BUT is crucial here.)
Anthropologist says unlimited (very huge) number of shells got washed away on beaches.
I am skeptic about my italic understanding and need validation of the same.
Dear adkikani,
You are right about BUT being important. Anthropologist simply stating that there is abundance of cowries is sufficient to have valid argument.
why these shells need to be ABUNDANT - This may or may not necessarily be stated.
Once Anthropologist states (a) cowrie shells formed the major currency in the Solomon Island economy and (b) Such shells are abundant
He has taken stand against Economist - Who has taken position that money derives its value when it is scare (real or perceived)
Also this might interest you wrt highlighted sentence by you -
wash up - if the sea washes something up somewhere, it carries it and leaves it there
Eg :Two whales have been washed up on the beach.
https://www.macmillandictionary.com/dic ... sh/wash-upwash away - if something such as rain or a river washes something away, it carries it away
Eg : Heavy rains have washed away the bridge
https://www.macmillandictionary.com/dic ... /wash-awayHope this helps
_________________
Everything will fall into place…
There is perfect timing for
everything and everyone.
Never doubt, But Work on
improving yourself,
Keep the faith and
Stay ready. When it’s
finally your turn,
It will all make sense.