It won’t be just a “drop in GDP”. It will be investments falling apart, industries closing down, credit getting scarce, unemployment, misery, destitution and death.
Money is a very real driver of the world. It is also the realest manifestation of wealth. Only a fool would call it an abstraction.
What else would it be but an abstraction? As I said, it’s sometimes a useful one, but it’s an abstraction. It’s not dirt or concrete or computer chips or food.
Maybe we shouldn’t build a whole society around an abstraction like that?
Lots of big words but nothing of value. Answer the question buddy, how will you tax people on money they don’t have?
They will sell it.
That’s why I say it’s going to cause a drop in GDP, but that’s only a problem if you hold tightly to the abstraction.
It won’t be just a “drop in GDP”. It will be investments falling apart, industries closing down, credit getting scarce, unemployment, misery, destitution and death.
Money is a very real driver of the world. It is also the realest manifestation of wealth. Only a fool would call it an abstraction.
What else would it be but an abstraction? As I said, it’s sometimes a useful one, but it’s an abstraction. It’s not dirt or concrete or computer chips or food.
Maybe we shouldn’t build a whole society around an abstraction like that?