But what it represents has shrunk
-
-
This Tweet is unavailable.
-
-
-
-
Repeated Venmo transactions between a circle of friends to split restaurant bills don't generate any wealth, either.
-
Yes they do. Convenience, reduced burden of book-keeping leading to freed up cognitive resources.
- 1 more reply
New conversation -
-
-
One perspective is that value of a single unit of a country’s currency equals value of every asset divided by units of currency in circulation. When you destroy productive capacity, value of currency declines by a trillionth (decline is spread out among all units).
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Seems like it would increase allocative efficiency but not productive efficiency.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Reminds me of the scene in Brewster's Millions where he buys an expensive rare stamp and uses it to mail a postcard.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
The second would probably cause inflation. The first seems a bit trickier to think through.
-
I think the first one would be inflationary too. Not exactly sure what you mean by “strictly non productive.” I’m imagining you paying your neighbor to buy a stick from his yard or something similarly ridiculous...
- 1 more reply
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.