Description
People often claim that the value of money is a matter of "agreement," or "trust," or money having certain properties that make it able to function as money. In this video we'll talk about an alternate point of view that explains how money can have genuine value that emerges from nothing in society, and in fact, will continue to do so even if everyone in a society thinks that money is worthless.
This is an accompaniment to a paper I recently put up on SSRN and Philpapers, and I made this to accompany it. Not the normal subject matter for the channel, but something a little different and fun.
Here's the full paper:
https://philpapers.org/rec/ENNMWM
And a one-page version:
https://philpapers.org/rec/ENNWMV