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Current fiat monetary systems are not based on 'what the world ow[e]s you'. Money is only a token of a debt an individual or group of individuals has with a leg
by jsprogrammer 11y ago
Current fiat monetary systems are not based on 'what the world ow[e]s you'. Money is only a token of a debt an individual or group of individuals has with a legally sanctioned and central bank blessed commercial bank.
- mtrimpe 11y agoAt it's core money is merely a concept used to determine deservingness though. It lets us answer the question "does this person deserve X," where X can be providing them services/goods (or not.) At the moment money is a rather contorted and easily manipulable proxy for deservingness though which is the cause of a lot, if not the majority, of the world's troubles. There's no technical reason though why we couldn't for example determine deservingness through interpersonal distribution of value; like PageRank but for people.