4 ms·
You could ask the same sorts of questions about why fiat money works (if this money has no intrinsic value why will the merchant give over his tangible products
by telchar 8y ago
You could ask the same sorts of questions about why fiat money works (if this money has no intrinsic value why will the merchant give over his tangible products for it?). Yet people do terrible things for tyrants. I don't understand exactly why it works but then again I'm not a tyrant of any sort.
- fipple 8y agoPeople do terrible things for tyrants (or their bosses more generally) because if their boss or tyrant is eliminated the resulting power vacuum will likely harm them with high likelihood (new ruler purges old loyalists) and reward them with low likelihood (they become the tyrant)
- addicted 8y agoFiat money works because when it’s working well, it is a win win for all concerned. When it isn’t working well, it fails dramatically (Zimbabwe, Argentina, etc). Fiat money (or any money, for that matter)only works till it works because it’s extremely useful for all concerned, and the alternative is a PITA. The doomsday scenario is hardly a win/win.