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According to that logic, does money have any material basis in reality? Or is it purely authoritarian in nature?
by 50656E6973 7y ago
According to that logic, does money have any material basis in reality? Or is it purely authoritarian in nature?
- Scarblac 7y agoNo, money is (mostly) a government tool used to make the economy run smoothly, it doesn't have intrinsic value.
- 50656E6973 7y agoJust to clarify: by "material basis" I dont mean "intrinisic" but rather "representational" like how when money was first invented, 1 unit of money represented 1 unit of material wealth (i.e. one cow)
- ls612 7y agoMoney is just a useful abstraction to get economic exchange to happen more easily. So long as the money supply is vaguely in line with the demand for real goods and services the details don’t matter too much.
- carlivar 7y agoAs long as the government can keep spending more every year, everyone is happy. This will apparently work forever. Best not to ask questions about how this affects the poor that don't have inflation hedges such as real estate or stocks.
- newguy1234 7y agoThe poor can easily get those things as well, especially with apps like robinhood that make buying stocks easier than ever. Also you have cryptocurrencies now that can basically be purchased in seconds.
- XorNot 7y agoUnless GDP growth is 0 then yes it can.
- carapace 7y agoGiordano Bruno said that whatever has the most value and the least cost of storage becomes money.
- 50656E6973 7y agoBy that measure it would seem data is the new money