473
How to fix the economy (lemmy.world)
submitted 4 months ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works
162 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[-] IntriguedIceberg@lemmy.world 2 points 4 months ago

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

[-] Alexstarfire@lemmy.world 1 points 4 months ago

Yes, but things like gold have actual uses which give them at least some actual value. Fiat currency is backed 100% by belief.

[-] earphone843@sh.itjust.works 5 points 4 months ago

Gold as a currency only has as much value as people assign to it. It's really no different than a fiat currency.

[-] konki@lemmy.one -1 points 4 months ago* (last edited 4 months ago)

Fiat currencies are actually backed by the tax liabilities denominated in them. If you are liable for one of my business cards, else a guy with a gun shows up at your door, you suddenly have demand for my business cards.

this post was submitted on 08 Feb 2025
473 points (96.6% liked)

Curated Tumblr

5351 readers
811 users here now

For preserving the least toxic and most culturally relevant Tumblr heritage posts.

Here are some OCR tools to assist you in transcribing posts:

Don't be mean. I promise to do my best to judge that fairly.

founded 2 years ago
MODERATORS
Apytele@sh.itjust.works
ethaver@kbin.earth