#Money is a gross oversimplification of #value, but a very practical medium of exchange. This combination makes it a hazardous idea. It is ideally a neutral thing, but practically very easy to misuse discounting real value thereby often misguiding our actions.
Value is #future of #life. That cannot be modeled as a simple scalar.
I've been reflecting on Paul Mason's Postcapitalism, particularly as concerns what he identifies as a hum-dinger of information goods: Information goods destroy the price formation mechanism based on scarcity.
That's one of a few cases in which markets as price-setting mechanisms fail, or are subject to very high degrees of ambiguity...
Continued at the dreddit.
#economics #prices #markets #value #information #finance #luxury #assets