Subject: Eh, money has always been fake.
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Posted on: 2022-08-25 13:00:51 UTC

Neither gold nor silver nor government fiat (nor obscure mathematics on a blockchain) have any intrinsic value. What has value is a) stuff and b) work. The whole concept of currency is just an abstraction of those, so that I can obtain food from a shop without having to give them a sheep or stack their shelves in exchange.

A big issue with capitalism as it stands is that it keeps disconnecting money from stuff and work. Jeff Bezos, to continue the example, is being paid vastly more for answering a few emails than his workers are for doing 8-12 hours of physical labour. This is a general trend: the more you're paid, the less you actually do. In theory it's because physical work gives way to mental labour and expertise, but while that might hold true at certain levels (a lab manager could be said to do "more work" than a lab tech despite not running any experiments), by the time you hit billionaires it definitely doesn't.

The money =/= stuff split is just as bad: it's what leads to housing market bubbles, stock market collapses, and so on. The same piece of theoretically stuff (one millionth share in Amazon, maybe) gets traded around without this minute's owner actually being able to do anything with it other than sell it on for, hopefully, more money; and eventually you hit the point where nobody is willing to pay more, and it all crashes down again.

So yeah. Money is fake. Tell your friends. ^_~

hS

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