Is Money Real?
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26-09-2013, 02:17 AM
Is Money Real?
I mean the idea that a piece of paper or metal can represent something and represent it's "value".

Earlier in a different thread I argued that belief is needed to make something a fact. Others believed that belief was not needed to make something a fact.

How does this work with money? I believe that, the belief that money is real is needed for money to function, if people didn't have confidence in money then we would see drastic economic affects.

Is money something that we all just mutually agree on to be real, or does money in some magical way actually represent something that sold or are buying?


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26-09-2013, 02:52 AM
Re: Is Money Real?
Currency is the representation of a service being given.

Yes, there needs to be some acceptance of it having value or it could be detrimental to ones life if they keep giving all they have for what they feel is nothing in return.

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26-09-2013, 04:12 AM
RE: Is Money Real?
(26-09-2013 02:52 AM)ClydeLee Wrote:  Currency is the representation of a service being given.

Yes, there needs to be some acceptance of it having value or it could be detrimental to ones life if they keep giving all they have for what they feel is nothing in return.

What I am asking is, is money a real representation of a value of a service? That would imply that a service has intrinsic value that money is representing.
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26-09-2013, 04:26 AM
RE: Is Money Real?
Nope.

Money (coins and notes) are the physical representation of the perception of value.

Service Value is defined in terms of three areas: the business / customers' outcomes achieved, the customers' preferences and perception of what was delivered.

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26-09-2013, 04:56 AM
RE: Is Money Real?
(26-09-2013 04:12 AM)I and I Wrote:  
(26-09-2013 02:52 AM)ClydeLee Wrote:  Currency is the representation of a service being given.

Yes, there needs to be some acceptance of it having value or it could be detrimental to ones life if they keep giving all they have for what they feel is nothing in return.

What I am asking is, is money a real representation of a value of a service?

Are you asking stuff? Or, are you waiting in the bushes, as per usual? Dodgy

No. It is an article of faith.

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26-09-2013, 06:02 AM (This post was last modified: 26-09-2013 06:06 AM by Hafnof.)
RE: Is Money Real?
Money (currency) is a readily-exchangeable commodity relative to whom the value of other commodities is commonly described and with which other commodities are commonly and readily exchanged. In order to be useful for this purpose its availability is controlled such that inflation of other commodity values in relation to the currency is relatively low, and the commodity is backed up by a system of government and law that encourages or requires it to be used as such a standard.

Currencies that suffer runaway inflation or deflation become useless, as do currencies that fail to be readily exchanged for other commodities. As such, acceptance of a currency is also a statement of faith and/or confidence in the system that maintains the necessary properties of that currency.

Money is real. I have some in my pocket. I carry dollars. Prisoners in gaol cells I hear carry cigarettes. Drug dealers I hear sometimes use laundry detergent[1]. The concept is more or less the same in any case.

[1] http://www.pe.com/local-news/local-news-...s-cash.ece

Give me your argument in the form of a published paper, and then we can start to talk.
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26-09-2013, 06:53 AM
RE: Is Money Real?
So you are disagreeing with me and the other posters that posted in this thread.

How do you determine the substantial value of a shank in prison relative to cigarettes?

I claim that there is nothing substantial behind this exchange and that the belief that money represents something substantial is merely the only thing that makes money worth anything.
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26-09-2013, 06:56 AM
RE: Is Money Real?
(26-09-2013 06:53 AM)I and I Wrote:  So you are disagreeing with me and the other posters that posted in this thread.

How do you determine the substantial value of a shank in prison relative to cigarettes?

I claim that there is nothing substantial behind this exchange and that the belief that money represents something substantial is merely the only thing that makes money worth anything.

Money is an agreed upon convention as a means of exchange.

I thought this was common knowledge; it is certainly not a revelation.

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26-09-2013, 06:57 AM
RE: Is Money Real?
I actually have something of value to add to this, but it's an I&I thread so there's really no point.

I&I, you're an idiot, go away.

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26-09-2013, 07:26 AM
RE: Is Money Real?
(26-09-2013 06:53 AM)I and I Wrote:  So you are disagreeing with me and the other posters that posted in this thread.

How do you determine the substantial value of a shank in prison relative to cigarettes?

I claim that there is nothing substantial behind this exchange and that the belief that money represents something substantial is merely the only thing that makes money worth anything.

The same way the value of most commodities are determined: http://en.wikipedia.org/wiki/Supply_and_demand

As per usual what you are say could be taken as true, in a sense, but not in any substantive sense. Currency is a useful concept that is used and has been for thousands of years. How more real do you want something to be?

Give me your argument in the form of a published paper, and then we can start to talk.
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