Everything is fiat. Whatever you choose to exchange only has value because someone else agrees it has value. Nothing has intrinsic value except maybe food. For example, a CPU has no intrinsic value. A giraffe that found a Ryzen 5950X would not value it any more than the pebble next to it. It wouldn't even be valuable to an African bushman.
Everything is fiat. Whatever you choose to exchange only has value because someone else agrees it has value. Nothing has intrinsic value except maybe food. For example, a CPU has no intrinsic value. A giraffe that found a Ryzen 5950X would not value it any more than the pebble next to it. It wouldn't even be valuable to an African bushman.
https://poal.co/s/Economics/518763/f0aba80c-3f02-4b12-a280-97f1fa5b9227
(post is archived)