The government creates the money, therefore the government owns it. In a sense that's really true: they can inflate away your wealth at will, whenever they choose, insofar as your wealth is held in their currency. As Muad'Dib says, he who can destroy a thing controls it.
I'd say "buy real estate," but under the fee simple system, the government ultimately retains title to that too.
The government creates the money, therefore the government owns it.
Yes and no. Governments are routinely bypassed by black markets. In the end, Government can create only sanctioned symbols of money, and it owns only those symbols. Individuals and aggregates of them create the actual value through their economic activity, and they create money sufficient to their (at least minimal) needs through their exchanges of those values.
3 comments:
Yeah, but it isn't "your" money. It's the people's money.
Be less selfish and more inclusive.
Eric Hines
The government creates the money, therefore the government owns it. In a sense that's really true: they can inflate away your wealth at will, whenever they choose, insofar as your wealth is held in their currency. As Muad'Dib says, he who can destroy a thing controls it.
I'd say "buy real estate," but under the fee simple system, the government ultimately retains title to that too.
The government creates the money, therefore the government owns it.
Yes and no. Governments are routinely bypassed by black markets. In the end, Government can create only sanctioned symbols of money, and it owns only those symbols. Individuals and aggregates of them create the actual value through their economic activity, and they create money sufficient to their (at least minimal) needs through their exchanges of those values.
Eric Hines
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