When we see money as a thing with value, we often mistakenly imagine it in absolute terms, as if value resided within it like a substance. In this view, a person with a billion dollars is like Pooh Bear with a giant pot of honey.

It would follow that if everyone was a billionaire, we’d all be like Pooh Bears with giant pots of honey.

Thinking of money like this is a mistake. In fact, if everyone in the world was a billionaire we’d all have nothing. In this piece I’ll explain why.

• The foundations of value
• Starting on zero
• Power differentials, and market economies
• Resetting the zero line

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