Problem with money is that money only have value when people are willing to exchange money for goods and services.
The moment that exchange stops, value of money plummets.
A very good analogy I saw in Charles Stross’ “Neptune’s brood” is that money is a concrete representation of an abstract debt. Exchange materializes that debt into a trade, which is where valuation happens. I’m pretty sure I just made a lot of economists justifiably angry though
Problem with money is that money only have value when people are willing to exchange money for goods and services.
The moment that exchange stops, value of money plummets.
A very good analogy I saw in Charles Stross’ “Neptune’s brood” is that money is a concrete representation of an abstract debt. Exchange materializes that debt into a trade, which is where valuation happens. I’m pretty sure I just made a lot of economists justifiably angry though