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You mean the people instead of government right? Gov is basically the employees we choose to administer part of our money.
by lalos 8y ago
You mean the people instead of government right? Gov is basically the employees we choose to administer part of our money.
- officialchicken 8y agoWe don't choose administrators of government, only the symbolic representatives. The actual administrators are most often politically connected "appointees" not "employees". Which is a completely different merit and vetting process than we normally consider in terms of employment.
- pjmorris 8y agoAnd, also, government creates the money we trade around as 'ours.'
- lalos 8y agoPeople give value to the currency, if we stop using it it becomes just paper. Maybe that would apply for gold standard backed currency.
- pjmorris 8y agoLook at the correlation between currencies traded around the world and currencies that are trade-able with governments to pay taxes. By volume, most trades are made in currencies created and backed by governments. People can and do make their own, but it's a fraction of economic activity. [0] https://en.wikipedia.org/wiki/Fiat_money https://en.wikipedia.org/wiki/Fiat_money [1] https://en.wikipedia.org/wiki/Modern_Monetary_Theory https://en.wikipedia.org/wiki/Modern_Monetary_Theory