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    Ghost of Hope (grayface_ghost@tech.lgbt)'s status on Monday, 19-Jun-2023 09:03:36 JSTGhost of HopeGhost of Hope

    Look, I'm a physicist by training, a programmer by trade, and an esoteric priest in my spare time.

    I'm not an economist.

    As far as I can tell though, our economic system is based on the belief that money is a finite resource.

    The value of money though is confidence. It has no physical existence, it's a virtual or magickal substance that's only peripherally related to human well-being (which should be the only measure of wealth although I'll accept forms of wider universal well-being) and even less related to economic activity. Economic collapses don't occur because countries run out of money! They occur because the rich lose confidence that the money they have is real, and that makes the money worth less or even worthless. The lack of confidence blocks the working of the magick.

    If more people understood this, there'd be less resistance to the idea of governments creating money in order to fund infrastructure projects.

    In conversationMonday, 19-Jun-2023 09:03:36 JST from tech.lgbtpermalink

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