[ExI] Bottom-up currencies
rpwl at lightlink.com
Fri Mar 11 16:37:37 UTC 2011
Money is a concept that *emerges* from a complex system. It is a
(a) What most people believe it is, and
(b) What various powerful actors (i.e. governments and market
speculators) force it to be.
The mistake, I think, is for people to get confused about the second of
these, and to think that if governments all decide to, say, adopt the
gold standard, that therefore that IS what money is.
In truth, the second factor (governments + market speculators) is really
only a particularly big and heavy group of "people", who happen to
believe a particular thing.
Conclusion: trying to argue about what money "really" is, or what it
"really ought to be" is somewhat nonsensical, since it emerges as a
result of beliefs and interactions of a complex nature.
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