dikaios1517 on Nostr: Doesn't have to be either/or. Money can have other advantages while ultimately ...
Doesn't have to be either/or. Money can have other advantages while ultimately existing to solve the problem of trust, which is fundamentally a moral problem.
And I would argue that while money is more efficient than barter, by far, it is not more efficient than credit. Yet, credit reintroduces the need for trust of people who are ultimately not worthy of it. Even when we try to organize the way credit is used in order to make the issuers of credit more trustworthy, we find that the temptation to abuse the privilege is too strong, and they sooner or later, usually sooner, violate that trust.
Sound money also has the added benefit of putting a natural limitation on the amount of evil a government can afford to perpetrate. When you have a money printer, you can extract far more value from your citizens without their consent in order to fund endless wars and line your own pockets. Not so when there is no mechanism to arbitrarily inflate the money supply.
And I would argue that while money is more efficient than barter, by far, it is not more efficient than credit. Yet, credit reintroduces the need for trust of people who are ultimately not worthy of it. Even when we try to organize the way credit is used in order to make the issuers of credit more trustworthy, we find that the temptation to abuse the privilege is too strong, and they sooner or later, usually sooner, violate that trust.
Sound money also has the added benefit of putting a natural limitation on the amount of evil a government can afford to perpetrate. When you have a money printer, you can extract far more value from your citizens without their consent in order to fund endless wars and line your own pockets. Not so when there is no mechanism to arbitrarily inflate the money supply.