1813 sats \ 33 comments \ @supratic 21 Jul econ

Economists use the term “create” when speaking of the process by which money comes into existence. Now, creation means making something that did not exist before.

Lumbermen make boards from trees, workers build houses from lumber, and factories manufacture automobiles from metal, glass and other materials. But in all these they did not “create,” they only changed existing materials into a more usable and, therefore, more valuable form. This is not so with money.

https://m.stacker.news/40707

Here, and here alone, man actually “creates” something out of nothing. A piece of paper of little value is printed so that it is worth a piece of lumber. With different figures it can buy the automobile or even the house. Its value has been “created” in the true meaning of the word.

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200 sats \ 3 replies \ @Lux 21 Jul

Since fiat money is a scam, are we only capable of creating scams? ;)

It's the successful alchemy, making a valuable thing out of nothing. They told us it's necessary to change the chemistry of elements, when in fact it's enough to change what people think.

47 sats \ 0 replies \ @Undisciplined 21 Jul

are we only capable of creating scams?

Interesting question. It reminds me of a Jordan Peterson line from years ago: "How do you know when you try to twist reality, it won't twist you instead?" That's my paraphrase anyway.

33 sats \ 1 reply \ @supratic OP 21 Jul

aren't thoughts/behaviors chemistry too? or are those chemicals reactions just the outcomes?

21 sats \ 0 replies \ @Lux 21 Jul

aren't thoughts/behaviors chemistry too?

I guess they are.

As without so within?

121 sats \ 2 replies \ @DesertDave 21 Jul

I think I see what you are saying. All we usually do is exchange energy. This is real. Money as we know it, is does not represent real energy exchange. It's completely made up. I do think we create ideas though. Like if you whistle a song. You are just moving air around but the tune itself. Where did it come from?

11 sats \ 1 reply \ @supratic OP 21 Jul

not sure we create ideas. if we start from the assumption that everything already exist, what we do is kind of “materialize” ideas.

thou are right on the energy side, or at least I agree with you, we are transmitters and we exchange energy in various forms. Alchemists of space and time!

0 sats \ 0 replies \ @DesertDave 21 Jul

Yeah. Words always get things confused. But there seems to be some place like the ether or whatever where we pull ideas from. Whether or not that is creation, I don't know. It's interesting how usually when a new idea comes around, it happens in many places at once.

15 sats \ 3 replies \ @freetx 21 Jul

Music? Movies? Poetry? Literature? Software?

Seems like there are many intangible things that man creates.

10 sats \ 2 replies \ @Bell_curve 21 Jul

all the Nobel Prize winners except for Peace which is given in Oslo and not Stockholm

Lately the economics prize has been dicey but still it's a scholastic contribution

14 sats \ 1 reply \ @supratic OP 21 Jul

any particular reason why in Oslo and not Stockholm?

21 sats \ 0 replies \ @Bell_curve 21 Jul

Norwegian committee vs Swedish committee

At the time of his death Norway had Sweden were united

14 sats \ 1 reply \ @IgnaciobTato 21 Jul

When a Monkey trade a banana for something, is it Animal Money?

0 sats \ 0 replies \ @Bell_curve 21 Jul

barter

14 sats \ 3 replies \ @03bcf32596 21 Jul

Don't we create other humans aswell.

14 sats \ 1 reply \ @Lux 21 Jul

we procreate

47 sats \ 0 replies \ @supratic OP 21 Jul

... by reproducing

0 sats \ 0 replies \ @DesertDave 21 Jul

Yes we do. Beautiful thing

21 sats \ 1 reply \ @flat24 21 Jul

It is certainly a very good observation, thanks for sharing! This type of logic is what leads us to embrace really hard money. that cannot be created from nothing, like Bitcoin and gold. The elite already know this, which is why they have limited and almost extinguished the possibility of getting gold for mortals in some regions, but they cannot do the same with Bitcoin because it is unstoppable, and we must be just as unstoppable by accumulating our precious SATS daily.

0 sats \ 0 replies \ @supratic OP 21 Jul

More than an observation, it's a reminder! Youngsters ignore it, teens play with it, many forget, and others don’t understand or never put the time to learn about it.

21 sats \ 1 reply \ @SatsMate 21 Jul

In the next 10 years there won't even be the paper of it! Just a government wallet put on your device with digits in a SQL database.

0 sats \ 0 replies \ @supratic OP 21 Jul

oh man, I bet they are using SQL!

21 sats \ 1 reply \ @IamSINGLE 21 Jul

FIAT money is the biggest scam of all times! It was created for the kings to always hold money under their control and let the public lead a fake life with fake dream.

0 sats \ 0 replies \ @supratic OP 21 Jul

I wonder what's the alternative then. if bitcoin is money we will continue playing with the same fiat mentality?

0 sats \ 1 reply \ @BigB 22 Jul

Creating vs manufacturing. Our currency is money. Unit of account, metric of consumption and supposed to be store of value. We CREATED the currency and MANUFACTURE the instruments of money. So even if dollar explodes we can still manufacture the instrument, yet the currency we created will expire.

0 sats \ 0 replies \ @supratic OP 22 Jul

... and a new one will surge! That's what has been happening for millennia now.

We CREATED the currency and MANUFACTURE the instruments of money.

Could the same concept apply to Bitcoin?

0 sats \ 0 replies \ @NRS 21 Jul

Creating value out of nothing, the goal is to gather gold.

0 sats \ 0 replies \ @Athena 21 Jul

Well said!

0 sats \ 1 reply \ @Satosora 21 Jul

That is why Nakamoto put the limit at 21 million. So it couldnt be created out of nothing.

20 sats \ 0 replies \ @supratic OP 21 Jul

ideas can be worth millions, in this case he defined it as 21!

0 sats \ 0 replies \ @77edb424fc 21 Jul freebie

yep brother that's true