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I don't think the principle of money is actually that difficult. We've all had that moment in middle school where we realised that money would be worthless if e
by matt4077 10y ago
I don't think the principle of money is actually that difficult. We've all had that moment in middle school where we realised that money would be worthless if everyone stopped caring about it.
It's just that some people stopped running around wide-eyed telling others about this revelation a few days later.
I guess we did get lucky in that the object of obsession they chose wasn't the law. Please don't tell them that murder is only a crime because enough people believe it to be or they'll throw us all in blockchains.
- dwaltrip 10y ago> money would be worthless if everyone stopped caring about it. Sure, on the surface this is easy to understand. But what might it look like for such a process to unfold? How do the fundamental dynamics and primary characteristics of a money system change over time, and why? Honestly, I can't really answer those questions in any kind of sophisticated way. A lot of discussions involving the Fed and broad macroeconomic policies feel fairly hand-wavy to me. Sure, the basics of runaway inflation caused by reckless money printing is not too hard to understand. But that's just one of many scenarios.
- arithma 10y agoIf everyone became a plant feeding off the sun, we won't "need" money, greatly reducing its value at least.