I really think it's hard to overstate the psychological impacts of business operators thinking they're making profit when they get politicians to print more money
Discussion
That's a separate issue. Cantillion effect stuff, no?
Either I don't understand what cantillion effect means or it's not real
The people closest to the money printers get more of the superficial benefits of the soft money system, but the benefits are still superficial for everyone since we really mainly need a way to reverse the imbalance of nature we've caused
I'm no expert, and maybe I'm stretching the def a bit, but feels same vein to me.
Not sure I got your point, a bit vague maybe.
Not sure I have time/energy to get to bottom of disconnect...hungry!
Cantillion effect is centralized theft from the many, awarded to some few iiuc. The businesses that directly benefit, or are 2nd 3rd downstream etc also benefit. As a rule, deviation of economic rewards from natural free market (ie centrally determined) distort shit and move us away from better game theoretic equilibriua/outcomes
Good chat, enjoy some food 🤙
Thought for a while to reply concisely - perhaps cantillion effect applies to financial/capital wealth, but ignores overall wealth, like capitalism itself does, and thus the underrated problem with using soft money denominations for convenience
Reread previous reply, and maybe this helped a bit.
Agree soft money creates false appearance of better outcome. The mechanism is at least partially captured by what I'm meaning when I say Cantillion effect. The rewards are very real to the theives, and often those same theives will prefer metrics that look favorably on the outcomes they create (think this is what you're touching on)
But yeah, those are likely bad and holding us back from something better (possibly unimaginably better), which is why it feels evil (not to mention getting your pocket picked). With a hard money there'd be way less of this possible.
The theme is, for me, anything that pulls us away from p2p efficient trade (that includes use of a hard monetary tech) must have worse outcomes
The freest trade is in primitive anarcho-communism also known as the "gift economy" anthropologists say we had before money
But that might not be the most optimal system in all situations
I think there are no real benefits for the thieves, they're just kleptomaniacs who need mental help because their actions have consequences
Give me a free milli and I'll show you real benefits for me lol. You're right on a more cosmic level maybe.
Free-est (sp?) trade is that? I'm criminally unread on anarcho anything. Trying to remedy that a bit but it kind of feels like homework when I read Austrian Econ stuff (close enough to anarcho stuff for me!).
Was gonna post something deep sounding this morning that I recently learned. Synthetic a priori proposition. Still struggling to really understand so decided to save post for another time (prob never)
In the gift economy, everyone just gave others what they needed knowing they would need others to do the same later
It can be argued this type of economy doesn't stimulate development of medicine and stuff without some way to manipulate it, like money/barter, but humans seem to deeply prefer a gift economy at scales where it works
A free milli might have benefits for you depending how free it really is, but theft and brainwashing have heavy cost, not very free
Yes yes, heavy cost... on others! Muhuhahah. Gimme
Gift economy doesn't scale (its combinatorics, and trade across distance and time where it fails), but is sort of the ideal p2p theoretical model. Lyn's book does a good job describing need for money as a technology imo.
Haven't read about example you're possibly specifically describing but that's my understanding from bitcoin books I've read
Had been fruitful exchange, don't write out thoughts on this often. Ty
Thank you too, good thoughts to type out. You've hinted at some further reading for me too 🤙
One specific short rec on reading that is related, this 10 minute read. Essay on Cooperation (pg 67) is good foundation for why the p2p utopia is real. Don't feel obligated to read (I don't read half stuff I say I will on here), but here's a link if interested (good book overall, full of playful subversive humor)