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this is the benefit of soft money. it allows the market to react to priceless values the downside of course is that moral initiatives come with boatloads of moral conflict with angry people on both sides
hard money, like the world btc maximalists dream of is a state where nothing “stupid” can be done with money. only “good” investments that are worth unfreezing btc are undertaken
one weakness here is that such a system cannot integrate the priceless but the critical weakness is that a moral argument boiling down to “don’t be stupid” doesn’t reflect on if hooman life itself is stupid or not. sth that an external observer, such a cat, easily sees.
this is y hard money holders tend to feel cultish, whether it’s burying gold in a pit for forever or holding btc forever. they necessarily hold on to the religious argument that hooman life is priceless. to break this foundation breaks the whole ideology
soft money advocates have an intuitive sense that markets as they are now produce externalities in a way that DOES put a price on hooman life.
should grandma’s life be extended for an extra year at the cost of 1 trillion, selling out entire neighborhoods to foreign investors? it’s a question many don’t want to answer. but the market, in its thick skinned pragmatism WILL provide and answer
as with all things, neither of these is correct because “rightness” depends on the situation a dog frisbee for example should neither be made of jello or steel it needs to be made of fabric or rubber and also depends on how big of a chewer the dog is
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