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tangible ˈtan(d)ʒɪb(ə)l/ adjective 1. perceptible by touch. Not all wealth is perceptible by touch. Its value is a lot more connected to othe
by lhnz 13y ago
tangible
ˈtan(d)ʒɪb(ə)l/
adjective
1. perceptible by touch.
Not all wealth is perceptible by touch.
Its value is a lot more connected to other people's trust in there being an underlying economic process supporting a value, than it is to do with it being something you can perceive with your hand.
- adventured 13y agoClassic example: the value held in the Coca Cola trademark. And of course we have accounting for this exact thing: intangible assets.
- marvin 13y agoIf you have two million dollars in your bank account, that is also an intangible asset. Its physical representation is a series of numbers in the bank's database (and perhaps a number of backups of this database). You certainly can't touch it. Or I suppose, more accurately your wealth in this case is your bank's debt to you of two million dollars, which is an abstract notion of which the numbers in the bank database are the physical evidence. Either way, whether you can touch this source of value seems like a moot point ;) Any economy is deeply based on trust.