4 ms·
the equivalence between money and energy or any other physical quantity is wrong. Money can be literally destroyed in a second, without leaving any trace. The
by dariosalvi78 3y ago
the equivalence between money and energy or any other physical quantity is wrong. Money can be literally destroyed in a second, without leaving any trace.
The vast majority of money goes nowhere, it loses value because of inflation, or just pumps up price of stuff that is used for living, such as housing, without "producing" absolutely nothing.
- Xcelerate 3y ago> Money can be literally destroyed in a second, without leaving any trace. I disagree. Money (a scalar value) isn’t any more real than energy (a scalar value; see Noether’s theorem). Both money and energy are accounting devices. Money cannot disappear since it’s not physical. A specific amount of money and its corresponding form (e.g., stocks, 401k, treasury notes) represent a probability that something can be obtained in the future from someone else, conditioned on the social convention that a few numbers change across a few databases. If you burn dollar bills or delete the private key to a Bitcoin wallet, you haven’t changed humanity’s capability to build yachts or conduct medical research; you’ve only changed who gets to influence those decisions.
- dariosalvi78 3y agoin physics there is the first law of thermodynamics, in economy there is nothing of the sort.