Most of the money created in our society is just thin air. It's not even printed or minted. It's just an abstraction floated against nothing but faith. Does this not seem rather frightening?
2007-11-12 06:11:40 · 10 answers · asked by Anonymous in Politics & Government ➔ Politics
Money is the system that has been developed to represent earned labor. As such ... if the majority doesn't buy into it... it is worthless. In todays world it can be electronic as well... no real money.. just moving numbers... and the really mind blowing part is how many people have become rich by doing nothing more than moving these electronic numbers...
mind boggling really.
But now.. out from the realm of philosophy... money works better than the barter and trade system for our new world nations. If a better system comes along people will probably "buy" into it eventually... though I can't imagine what a better system would look like.
2007-11-12 06:19:31 · answer #1 · answered by pip 7 · 0⤊ 0⤋
Because in 1913 this thing called the Federal Reserve came into existence and ever since then the value of the dollar has gone down significantly. It use to be that money was all accounted for by real gold, somewhere, but as the decades waned on gold started to count for more and more bills... so the true value of the paper began to decline, and now the true value of the dollar is nothing more than the Americans faith in it. If that was shattered... the country would collapse and end. But, most people don't believe this, beyond that the government has a pretty tight hold on us... so the chances of us every loosing faith in the dollar are fairly slim. Chances are, the US probably isn't the only country with this issue... but that's just a guess on my part.
2007-11-12 06:18:23 · answer #2 · answered by ruthaford_jive 6 · 0⤊ 0⤋
Money is media. Check out Marshall McLuhan, Understanding Media; The Medium is the Message.
2007-11-12 06:35:57 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yeah, it is, but the gold standard hasn't been used by any nation on Earth for close to a hundred years.
Just have faith. We'll be okay.
2007-11-12 06:20:46 · answer #4 · answered by The emperor has no clothes 7 · 0⤊ 0⤋
It should be trusted as a currency of exchange with little fear (at least today).
However, the ability of the Fed and the Treasury to create new money whenever they want leads to my skepticism of its ability to serve as a store of value.
2007-11-12 06:19:00 · answer #5 · answered by Time to Shrug, Atlas 6 · 0⤊ 0⤋
I believe the Great President, and Philosopher George W. Bush said it best..."Money, trumps peace."
2007-11-12 06:25:34 · answer #6 · answered by mbush40 6 · 0⤊ 0⤋
It's those pieces of paper and metal that I trade for things I want. I like it. I've even worked to get it. I never asked anybody to just give it to me, though.
2007-11-12 06:17:07 · answer #7 · answered by Anonymous · 0⤊ 0⤋
What?
I suggest staying off the pipe, or stop reading philosophy out of the back of a cereal box.
2007-11-12 06:16:05 · answer #8 · answered by Anonymous · 0⤊ 1⤋
In God We Trust
All Others Pay Cash.
2007-11-12 06:16:35 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Yes. It's only good for what people believe it can do.
2007-11-12 06:14:16 · answer #10 · answered by shirleykins 7 · 1⤊ 1⤋