3 ms·
Money is definitely an intersubjective reality - valuable only because people believe it to be so. It might be a very stable concept in most instances, but var
by nmca 4y ago
Money is definitely an intersubjective reality - valuable only because people believe it to be so.
It might be a very stable concept in most instances, but various very real and extreme edge cases exist. (Regular inflation, Hyperinflation, local disaster, global disaster, bank runs, etc)
I quite liked the description of the invention of currency and beaurocracy in "Sapiens".