Money Is Backed by Everything

http://jaysoncoomer.com/2023/04/03/money-is-backed-by-everything/

by herodoturtle • 3 years ago

3 5 3 years ago

thaanpaa3• 3 years ago

Money is a poor measurement tool. Unless you like measurement tools whose value changes every second.

Money is a contract; no more, no less. A unit of money essentially represents some amount of goods, services, or labor, all of which ultimately boil down to some amount of work.

Oh, and the value of work also varies over the long term depending on factors such as supply, demand, and perceived importance. (And in the case of humans, things like experience, education, and location).

CRConrad2• 3 years ago

Money is a poor measurement tool. Unless you like measurement tools whose value changes every second.

Measurement tools whose value changes every second are the only sensible measurement tools. A voltmeter that reads five volts all the time, regardles of actual electric potential present, is as useless as anything can be.

A unit of money essentially represents some amount of goods, services, or labor, all of which ultimately boil down to some amount of work.

Exactly. And what money meadures is exactly that ratio of goods to goods, goods to services, services to work, etc etc. Which all constantly fluctuate in relation to each other, so no fucking wonder the value of money does, too.

thaanpaa3• 3 years ago

Yeah, meant the unit. Sorry for the imprecise language.

A volt is a volt, it doesn't change.

The value of a dollar changed even during the time it took you read this comment.

Money Is Backed by Everything

Related Stories