In Taberna

XX - THE DESTRUCTION OF MONEY When we study the financial and currency system of today, we enter an area where there reigns profound confusion. There can be no doubt that we are living in an era of general deterioration of currencies. This is shown by the withdrawal of precious metals from circulation and by the constant migration of gold in its flight from danger zones to zones of greater financial safety. Inflationary and deflationary movements, devaluations, and withdrawals from circulation affect all currencies, which have to be protected artificially by the most intricate regulations. Possession of precious metals or foreign banknotes, export of holdings by the owner or his agents, re-importation of currency into the country of its origin – all are put under the strictest control. Eventually, under pressure of exchange difficulties, we see the state reverting to a kind of primitive barter economy, an economy of peculiar financial and economic consequences. All these mysterious and...

Let us study the relation of technology to quite another field, the organization of schools and universities. As the technician enters this field, he converts all institutions of learning to his interest; that is, he promotes technical training, which as he claims, is the only up-to-date, useful, practical knowledge. The significance of reforms in this direction must not be underestimated. They constitute a direct attack against the idea of a "rounded education" (encyclios disciplina) that prevailed in classical and medieval times. The consequences of this attack do not, obviously, consist alone in the decline of the role of grammar in education, in the retreat of astronomy and music, in the disappearance of dialects and rhetoric. This slashing, whereby of the seven classical "free arts" only arithmetic and geometry have survived, is by no means all. The technical science which comes to a position of supremacy is both empirical and causal. Its inroads into education...