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102 sats \ 1 reply \ @denlillaapan OP 10h \ parent \ on: Money Isn't a Measuring Stick, Idiots (TDE, Pete Earle) econ
I think we're trying to chain two different dollars together. As long as you keep in mind that dollar(t-1) isn't the same as dollar (t) or dollar (t+1), that straightens out a lot of confusion.
(Of course, our ability to chain them statistically are completely hopeless endeavors)
The standard economist answer it's that it's a medium of exchange, ie the rails on which you transact: and those rails work as well today as a year ago (in some ways worse than 20 years ago, in other ways better)
The standard economist answer it's that it's a medium of exchange,
That makes sense in the case where I buy something with dollars, but I'm asking about my coffee for btc trade denominated in dollars example (and I refuse to accept unit of account as an answer).
I don't think the dollar in my coffee example is a medium of exchange. If I was thinking about aggregated trade denominated in dollars but perhaps settled in something else (as maybe most of the statistics we read about in the news actually are in reality) it starts to feel like a unit of account, but still...there is something else going on on the coffee example at least.
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