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It's not really about money. Money is just bits of paper, or electronic equivalents, that can be produced in arbitrary quantities. It's about having sufficient
by incompatible 7y ago
It's not really about money. Money is just bits of paper, or electronic equivalents, that can be produced in arbitrary quantities. It's about having sufficient production of food and other necessities to keep people alive, ensuring that it's distributed to everybody, and finding enough people who are willing to do enough work to keep the economy going at this level.
- luckylion 7y agoRight, obviously when I say money, I don't mean "paper", I mean the equivalent value that we represent by using money. We're generating a lot less value today, while spending as if we didn't. Suggestions for the state to pay people their usual salary while locked down for the next months/years do require some idea of how to pay for it (again: with value, not with paper). Magic aside, how will that happen?
- JackFr 7y agoExactly. The estimated $25 billion dollars a day the lockdown is costing the economy is real economic output not a balance in a ledger.
- PeterStuer 7y agoWhat percentage of the 'working population' do you estimate is involved in necessities as opposed to conspicuous consumption, superfluous intermediating, red queen standoffs, speculation, empire building and active or collateral sabotage?