"Money is a collective fiction"
What a fucking idiot!!
https://www.ted.com/talks/neha_narula_the_future_of_money?utm_campaign=tedspread&utm_medium=referral&utm_source=tedcomshare …
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Fiat dollars are based on a collective fiction but we operate in a world who finds a majority consensus that they will accept/require it to be able for us to survive. we dont believe in that fiction but we still participate
Fiat dollars are based on central bank policy, which is in turn justified by macroeconomic theory. It may well be accurate to call that a collective fiction, but it's a fairly small and narrow collective.
![she wants the [jhon]nY](https://pbs.twimg.com/profile_images/1108777328681852929/DTpDtBAC_normal.png)
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a collective fiction that's reinforced by threat of violence
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That's the key. Once you define money as a "fiction", by conflating "subjective theory of value" with "collective fiction", then you have the basis to brainwash millennials and politicians into thinking they can "change the world" by just by fighting against those "fictions".
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Also the "fiction" definition supports the "bitcoin is created out of thin air" meme, and that is later used by politicians to control it or outright ban it.https://youtu.be/Cnz2oo8MRas
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But the collective fiction is based on the groups acceptance of it as money not on its merits or academic support. The collective fiction of fiat is part of the larger collective fiction of the social contract and where the divine right of the state.
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There are still a bunch of us out here who agree or disagree with things based on their actual merit. Amazing, but true.
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I just posted an article exactly on that issue, it also contains a section explaining the emergence of fiat money with the Mengerian theory of the origins of money (i.e. not as a shared fiction). Hope you will find it interesting for the discussion.https://twitter.com/_benkaufman/status/1162772746675335168?s=20 …
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