The Picard Maneuver to Curated [email protected]English • 3 days agoHow to fix the economylemmy.worldmessage-square128fedilinkarrow-up1471
arrow-up1471imageHow to fix the economylemmy.worldThe Picard Maneuver to Curated [email protected]English • 3 days agomessage-square128fedilink
minus-square@[email protected]linkfedilinkEnglish2•3 days agoBut then said good only has as much value as we put on it. There’s a tacit acceptance of what a group of people decided that good is worth. Its value is as real as we collectively decide it is; it’s a construct
minus-square@[email protected]linkfedilinkEnglish2•3 days agoYes, but things like gold have actual uses which give them at least some actual value. Fiat currency is backed 100% by belief.
minus-square@[email protected]linkfedilinkEnglish5•3 days agoGold as a currency only has as much value as people assign to it. It’s really no different than a fiat currency.
But then said good only has as much value as we put on it. There’s a tacit acceptance of what a group of people decided that good is worth. Its value is as real as we collectively decide it is; it’s a construct
Yes, but things like gold have actual uses which give them at least some actual value. Fiat currency is backed 100% by belief.
Gold as a currency only has as much value as people assign to it. It’s really no different than a fiat currency.