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30 sats \ 1 reply \ @denlillaapan OP 7 Dec \ parent \ on: MONEY CLASS OF THE DAY: Intrinsic Value vs Subjective Value...and Music! econ
Don't follow you re: regression. What you say seems to be incorrect.
For distribution and storage etc of music, I agree with you -- but that would only support my point that the music itself has passed away from economic good and we're trading these other things (playlists, convenience, storage, distribution etc)
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0 sats \ 0 replies \ @Rothbardian_fanatic 7 Dec
Don't follow you re: regression. What you say seems to be incorrect.
How so? The regression theorem is about tracing back to the origin of money. Thus fiat from gold backed currency from gold from gold as the most desired commodity form one of many commodities. Therefore, commodities are the basis of the value of fiat and when you purchase FTC with fiat it inherits the value given to fiat at that time.
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