The Problem With Money
10th May 2022
The problem with money is it isn’t just one thing. We think it’s one thing because we use it to buy things, but it’s actually a bunch of different things. This is why I often refer to it as “money:” in other words, one of the class of things that are stores of value, transactional grease, debts and various other bits and pieces.
Recall that “money” is not a fixed class of things; it is a social construct. People agree to use (or are forced to use) something to transact tax payments, debt payments, stores of value, etc. “Money” only has value in a socio-economic system that is a social construct with social contracts and power relations.