james on Nostr: The basic human currency is trust. If you trust your friend or family member to ...
The basic human currency is trust.
If you trust your friend or family member to return favors and regard you with goodwill, money is not necessary.
Money is what extends trust to strangers, because by giving money in exchange, they promise good will be returned.
Money is information about good done to and for others. It is a substitute for trust and goodwill. It does not replace trust, but extends it. Fundamentally, to trade money is to say the money is trustworthy and said trust may be borrowed by the counterpart in trade.
When money becomes untrustworthy in a society that has greatly relied upon it, that society breaks down. Only when society fixes the money will it recohere.
If you trust your friend or family member to return favors and regard you with goodwill, money is not necessary.
Money is what extends trust to strangers, because by giving money in exchange, they promise good will be returned.
Money is information about good done to and for others. It is a substitute for trust and goodwill. It does not replace trust, but extends it. Fundamentally, to trade money is to say the money is trustworthy and said trust may be borrowed by the counterpart in trade.
When money becomes untrustworthy in a society that has greatly relied upon it, that society breaks down. Only when society fixes the money will it recohere.