Comedy video take\\ what constitutes money
Posted: Mon Sep 16, 2013 6:00 pm
These are hilarious.
I used to agree with the comedian... thinking our money was a big game of greater fools that if we eventually looked down (a la Looney Toons), would fall apart in a heartbeat. Then Mosler's over-simplified-but-useful example of him making his business cards valuable by holding people in the room at gunpoint unless they could produce one of his business cards made my mind explode.
So as long as the government has the ability to tax, and a productive economy backing it, it can make money valuable not just by legislative fiat, but by effectively holding a gun to our heads to make us produce some of it for taxes every year.