This is only true in the abstract. Yes, you are technically correct. Money only has value because a large enough group of people agree that it does.
But money is a shared token that describes the value of someone’s time and effort which can be exchanged for goods and services. It’s a common thing that can be bartered that everyone will accept. It’s an incredibly useful thing for a society to have.
Don’t almost all financial people agree that there needs to be some bottom level distribution to work? Cause it would seem the people hoarding all the wealth don’t understand if they have enough of it it’s actually worthless?
If there isnt enough money moving in circulation, it typically means that people are saving it for hardship rather than spending, which is in turn a sure sign of a poor economy.
The rich assholes at the top have been able to basically trust that smarter people will handle policies to prevent a major depression. Anyone that was old enough to remember the last one is dead now. Anyone that lives quarter to quarter doesn’t care about market conditions 90 years ago.
Money isn’t real.
This is only true in the abstract. Yes, you are technically correct. Money only has value because a large enough group of people agree that it does.
But money is a shared token that describes the value of someone’s time and effort which can be exchanged for goods and services. It’s a common thing that can be bartered that everyone will accept. It’s an incredibly useful thing for a society to have.
Don’t almost all financial people agree that there needs to be some bottom level distribution to work? Cause it would seem the people hoarding all the wealth don’t understand if they have enough of it it’s actually worthless?
This is also correct, but a different problem.
If there isnt enough money moving in circulation, it typically means that people are saving it for hardship rather than spending, which is in turn a sure sign of a poor economy.
The rich assholes at the top have been able to basically trust that smarter people will handle policies to prevent a major depression. Anyone that was old enough to remember the last one is dead now. Anyone that lives quarter to quarter doesn’t care about market conditions 90 years ago.
More like 100 years ago
The bank that holds my mortgage sure seems to think it is.