3 ms·
In a sufficiently trusted circle, you could probably just as well use a notion of debt instead of money or barter. Debt would be completely immaterial and virtu
by elcapitan 11y ago
In a sufficiently trusted circle, you could probably just as well use a notion of debt instead of money or barter. Debt would be completely immaterial and virtual. This would work for villages or for groups with "multiple rounds" of encounter, in game-theory speak.
- noir_lord 11y agoViewed from one aspect cash already is a transferable debt, it's why our currency says "I promise to pay the bearer on demand"
- elcapitan 11y agoExactly. Taking away cash and replacing it with debt again would basically just mean to replace the general trustee (the issuer of currency) with trust inside the group. Probably depends on the type of group and only works in relatively equal, non-competitive environments.