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I have a hard time with any rhetoric that requires me to accept a radical redefinition. Pray tell me, how is something that did not go away destroyed?
by oldmanjay 11y ago
I have a hard time with any rhetoric that requires me to accept a radical redefinition. Pray tell me, how is something that did not go away destroyed?
- sdenton4 11y agoMoney now is more valuable than money in the future. The difference between the two, when the money is sitting still in some vault, is destroyed value.
- imgabe 11y agoAs an extreme case, suppose 1 person has all the money in the world and won't spend any of it and everybody else has nothing. What use is that money?
- sp332 11y agoBut it did go away - "away" meaning stuck where it will not be spent. We could theoretically get it back if it moves again, but if things keep going the way they are now, that money will never move.
- tangent128 11y ago"Destroyed" may be the wrong term, but the purpose of money is to facilitate transactions. One dollar that changes hands ten times in a year has contributed more to the economy, and created more effective wealth, than ten dollars that spend the whole year lying in a safe.
- danharaj 11y agoFacilitated the creation of wealth is more accurate than created wealth.