[LMB] Money (eventually on topic)

Matthew George matt.msg at gmail.com
Thu Nov 19 18:40:06 GMT 2020


The trouble with the concept of value is that it has both subjective and
objective aspects.  Types of materials, like gold, silver, platinum, or
gemstones are valuable only because we value them - and in many cases they
have their particular value only because of market manipulation.  Diamonds
are an especially well-known example; they would be much cheaper if a
cartel didn't limit the supply.  But value cannot be *arbitrarily*
increased, or decreased for that matter.  It's as though humanity were
playing a game whose rules were alterable but subject to poorly-understood
metarules that we did not establish and don't seem able to change.

Famously, we cannot declare tree leaves to be highly valuable, burn down
the forests to increase scarcity, and find ourselves any better off.

Matt "Ark B" G.


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