How to (re)make money so that it works for us, not the other way around (via galiabenartzi)
We often wonder how human society could have evolved—or even existed—without language. But could we have cooperated without money? Language enables us to share information, our inner worlds. With collaboration and trade, later improved upon by money, we share our value, in the form of our goods and services. Without people to use it with, money is powerless—and yet we live with the feeling that money holds a tremendous amount of power over us.
Take gold, for example. Put aside that it has actual utility in manufacturing processes: because gold is widely recognizable, divisible , hard to counterfeit and scarce, it is also said to have intrinsic value. But gold's value is actually due to its almost religious power—the fact that many people believe they will be able to exchange it for goods and services. Same goes for national currencies: we accept them as long as we are confident someone else will accept them later.
In the next era, money came from governments. Emperors, kings, presidents and parliaments, for centuries and still today, have assumed the responsibility of defining what we use as money. From stamped coins to printed bills to digital ledgers, governments everywhere—democratic, communist, dictatorial and otherwise—have decided what money is, how much of it there is, and most importantly, who gets it first.
Almost a year prior to the end of the World War II, the United States gathered the Allied Nations, far from the chaos of Washington or the carnage of Warsaw, to design the economic framework that would define the post war economic arrangements between nations, aiming to end world wars.
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