Message from @My Preferred Pronoun Is Sama
Discord ID: 545692342925918208
Value depends on the subject, not the object.
This shit predates marx
But then foreign trade comes in again.
Smith wrote about this.
Adam Smith was a red.
Why trade with your own country if igs better to trade somewhere else?
just want to make sure i understand you @halfthink : you're saying value is subjective?
meaning, an apple may be worth 1 dollar to one dude, and 2 dollars to another, right?
@My Preferred Pronoun Is Sama high time preference vrs low, we prefer long term stability over short term profit at expense of social order
yes, that is correct
in a fiat system this is correct
But you dont get to pick that
because the value of the fiat currency itself is arbitrarily based on the interest rates of central bank
Even in deflation eras, ppl spensing money in other countries was a problwm
but in a production based system this is not correct, because the value system is not based on arbitrary opinion, but on a tangible physical function of matter
aggregate marginal production function, or more technically the first derivative of aggregate production function
Trade is only possible if value is subjective. Both sides have to value what they are receiving more that what they are giving up.
thereby currency functions as a derivative currency backed by production
Incorrect, you can reconcile the absolute trading with relative value by comparing baskets of goods in two countries to create foreign exchange market.
You can have deflation based on production with a fiat economy
do we all agree that fiat currencies need to be put to rest?
yes
If iys based on the ability fora goverment to produce, its still reliant on an intanigble thing
End the fed
Yes fiat money is cancer
@My Preferred Pronoun Is Sama it's not about the govt's ability to produce, since we're not nationalizing the corporations per se
nationalization only occurs if a company defies race, we would likely execute any board members who dared to do so as well
You need to trade the currency for gold to end fiat again.
i figured. let's assume the gold standard then going forward. probably more productive. fiat is probably on it's way out in the near future anyway (unless we really want to live in a world of perpetual debt)
gold standard is not the best
Its an example
production based is a better system, but in order to work you need to get your social cohesion in order
hence ethnostates
If corporations have to do what you say or else they will be nationalize, then they are effectively already nationalized.
i kind of need to agree with @halfthink when i say basing a currencies value on production is highly subjective. depends where, when, how, etc.
how is it subjective
More arbitrary than subjective.
production is a physical thing, and we're not basing it purely on *aggregate* production, but the *rate* at which we produce on aggregate as a society
it's an application of modern fischer rate theory to currency with a production spin on it