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Dollars are how we account for net value provided, and their only value is in society’s collective agreement that tangible goods and services person A provided
by kd5bjo 7y ago
Dollars are how we account for net value provided, and their only value is in society’s collective agreement that tangible goods and services person A provided to B yesterday can be balanced by unlike goods and services A received from C today. They’re literally the debt that society owes the holder to compensate for past services to the society.
It’s not the only system of distributing goods and services to the populace. In theory, a centralized authority could evaluate everyone’s current need and provide it to them directly. This has gone disastrously wrong whenever it’s been tried in practice, though.