No, it's literally just bitflips. The supply of dollars increases by trillions a year between fractional reserve banking and, depending on the year, fed policy. We're not even printing them.
It's a way to represent that value. The number does not itself store the value, nor does changing the number transfer the value.
It's true that people work hard for that representation, because we've built systems where the link between the representation and the underlying value is quite strong, but it is still just a number at the end of the day.
No, it's literally just bitflips. The supply of dollars increases by trillions a year between fractional reserve banking and, depending on the year, fed policy. We're not even printing them.
Indeed. And according to MMT what that does is claim economic output for the government (work resources etc), without direct taxation.
An arbitrary score that's meant to represent said years, not the actual output of those years.
It's important to remember that money is not value. It's a score that's meant to represent value, but the value itself is entirely distinct.
People literally work their lives for that representation. It’s not the value itself but it’s a way to store and transfer certain kinds of value.
It's a way to represent that value. The number does not itself store the value, nor does changing the number transfer the value.
It's true that people work hard for that representation, because we've built systems where the link between the representation and the underlying value is quite strong, but it is still just a number at the end of the day.
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