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The money system is provided by the government. It is not abstract, is a very real arrangement of actors and conventions.
by kaonashi 13y ago
The money system is provided by the government. It is not abstract, is a very real arrangement of actors and conventions.
- burntsushi 13y agoYou didn't say money system. You said economy. Currency is certainly a scarce resource.
- kaonashi 13y agoNo, real resources are scarce. Money is anything but -- it is issued by fiat.
- burntsushi 13y agoThat's an obtuse remark. Money is a tangible object. That people give money value based on whatever reason is not relevant to whether it's scarce or not.
- kaonashi 13y ago> Money is a tangible object Money is an entry in a ledger. It can or cannot have a tangible manifestation (coins, bills), but it is not always the case (reserves are purely electronic).