this post was submitted on 08 Feb 2025
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How to fix the economy (lemmy.world)
submitted 5 months ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works
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[–] captain_aggravated@sh.itjust.works 26 points 5 months ago (12 children)

To quote Brian Brushwood, "It's just pieces of paper that we believe in."

[–] konki@lemmy.one -3 points 5 months ago (8 children)

The reason that you and everyone else believe in it is primarily because you need it to pay taxes, so the belief is not arbitrary.

[–] Arcka@midwest.social 1 points 5 months ago (1 children)

Lots of people don't have to pay taxes.

[–] konki@lemmy.one 1 points 5 months ago

True, but somene has to, and they will create a demand for the currency. If I hear that Joe the baker needs money to pay taxes, and I want to buy bread from him, I know he will accept the government currency as payment for his bread. This in turn makes me demand money to be able to buy the bread.

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