Post
Topic
Board Economics
Re: Metarepresented Money
by
mirelo
on 27/01/2015, 14:12:43 UTC
...
You keep confusing the need for money with its value. The value of money consists in its buying power, not in how much you need it. Of course, if you have the amount of money Jamie Dimon has, then you can indeed change the value of the monetary unit, despite certainly not by just needing less of it.

Value is entirely conceptual though, its just as much a personal thing as beauty or taste and doesn't have a hard and fast means of measurement in the real world. Money attempts to do that but its a crude and inaccurate measure, just as a portrait is only a visual representation of the infinite complexities of the person it represents.

Money must represent how much of one thing people are willing to give in exchange for another thing.

Money has essentially nothing to do with how people decide what they want or need, and in which quantity, or what they are willing to give in exchange for that, and in which quantity.