But the precise number is still arbitrary.

And prices are adjusted to best make profits to get ppl to buy them

The value of any coconut cannot ever "exceed" anything but a fictional limitation you put on the monetary supply.

But then you have already defeated the purpose of money at that point.

But money needs goverment to hold itself up, even before the federal reserve

The reason my coconut has value is because its observable

Money needs to be reliable.

Same for w.e i trade it for

It's a promise.

The fact the goverment failed to trade the bills for gold was on then

But it didnt change the fact money was still needed for a healthy market

An assurance, a fixed value

But you do see my point about anything in an economic system "exceeding" any fixed value supply, right?

If it's there and people desire it, it has a value.

It's part of the economic environment.

Yea i do. Im just saying it needs standards

But those standards are relative, even if you peg it to gold as you said.

If the coins have intrinsic value, it is just that people assign a value to the coins.

It's not really a different scenario.

Based on the ability for something else to do it

Something has to happen for value

Money just keeps track of the "promises"

That's why I also find it nonsense when people ask question like "how can you put a price on art?" The implication is that it's very valuable. But if it has a value, if art is such a high good, then it is THEM who put the value on it. And there is your price tag. They assigned a value to it, which is whatever they are willing to trade for that piece of art.

Human life can be measured in those terms. People think it devalues life, but it's a neutral measure.

"Are you willing to trade your car so that grandma can live another month?"

It's not the economic system that created such conundrums. Reality did.

Which goes back to vialibility if an average human life to exist in a civilization

And wheter or not should put measures to guarantee survival for most

Prices and markets simply seek to quantify it, but they express the value that people project on those things. That is why even human life can never "exceed" any supply.

Human life was there to begin with. It exists as a thing we value, regardless of the monetary supply. The only thing we can ask of a price is whether it accurately reflects the relative value we place on that thing or not.

It has in a sense

How?

What % of the economy is entertainment? Or other non neccessities?

See, you are back there.

Entertainment will have whatever price tag corresponds to the relative value people assign to it in a free market.

The value judgement is not necessary. It's already included in the price tag.

But how many lives are dependant on it for its livelyhood?

I don't know.

All of that is expressed in the price tag.

If you say that something is so unimportant and that there are worthier things in the world then YOU made a judgment of value.

And, in a free market, that judgement, your judgement, is included in the price tag.

Well what im saying is we need to buy things we dont need or it all falls apart