The Inexorable Rise of Funny Money

“When one commodity replaces another, the money commodity always sticks to the hands of some third person,” wrote Karl Marx in , referring to the sheer effort involved. “Circulation sweats money from every pore.” Today, in a moment of rising inflation, job losses, economic uncertainty, and an affordability crisis, capital has to keep us on the treadmill. Buy Now, Pay Later (BNPL) companies like Affirm and Klarna have done just that, increasing transactions and keeping our money on the move with…