Post
Topic
Board Economics
Re: Money As A Social Construct
by
Oluwa-btc
on 12/05/2025, 12:43:18 UTC
value is subjective.

Not every value of money is subjective. A subjective value can be called a value that is valuable to a certain limited group of people. If we are talking about money, for example, the currency of a country has a subjective value for the citizens of that country. The value of a form of money for a limited period of time is also subjective (for example, the British pound has been the world currency for a century, that is, it was valuable to everyone for a limited time). Is there any form of money that is objectively valuable to everyone and always, that is, throughout the history of mankind?  It's gold. Therefore, the value of gold is not in the eyes of the beholder, its value is objective, because gold is valuable for everyone and always. Is it logical?

So long as it offers and serves the same purpose for which it was made for, it'll be quite functional to because people have collectively
Agreed that it has value and there's the "social construct"the acceptance,trust and comfortability we've given makes it valuable literally to us.