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?
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?