113 sats \ 8 replies \ @SpaceHodler 20 Jul \ parent \ on: Love of Money Education
Study Austrian economics and you'll understand the value of money.
As well as time preference, which interest rates arise from.
I struggle to understand the value of fiat money. I understand money as debt, IOU, a promise to pay you later... or never!
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Fiat is valuable because others will accept it in trade for things you want.
A debt, IOU, all of these things are credit. Credit works in a high trust environment, and is more efficient than money. A tribe less than Dunbar’s number doesn’t need money. Credit, in the form of reputation, is sufficient.
For strangers, money is essential because neither party knows the reputation of the other. Or maybe they have a bad reputation. With money, antagonistic parties can still trade and benefit from the trade. With credit, the trade would never take place.
Money allows trade that might turn enemies into friends.
Money is not the root of all evil. The LOVE of money is, because it’s better to love your wife, your children, and God. Loving money gets in the way of that.
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150 persons
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The Garden of Eden was the entire Earth, bands of people hunting aurochs and mammoths. Must have been something. Not really a garden, more of a hunting ground.
Agriculture was the great sin of man, chaining us to the land and killing each other for it.
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do you mean 150%?
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Dunbar's number is 150 people
https://royalsocietypublishing.org/doi/10.1098/rsbl.2021.0158
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🤯
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You can only maintain relationships with 150 people and these are superficial relationships.
Fortunately I don’t have this problem
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