Henry George

Quote from Ricter:

Absolutely. It takes common agreement for pieces of paper (now mainly tiny voltage differences at transistor leads?) to have the "same" value as a loaf of bread.
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What about the most important ingredient: Confidence in the establishment issuing the money.
 
Quote from Tsing Tao:

Confidence in the establishment issuing the money.
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This is known as the period where we went off the "Beaver" standard and began the gold standard. You know, where we trade 3 bushels of wheat for beaver...:D
 
Quote from nutmeg:

This is known as the period where we went off the "Beaver" standard and began the gold standard. You know, where we trade 3 bushels of wheat for beaver...:D
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3 bushels wheat = 1 beaver (which type? Doesn't matter. :)). There's no gold in that equivalence.
 
Quote from nutmeg:
----"Beaver" standard....
----gold standard.
----3 bushels of wheat....
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New Jerseyans......or is it New Jerseyites?.......wear beaver. New Yorkers wear mink and sable. :D
 

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Quote from Ricter:
----3 bushels wheat = 1 beaver....
----(which type? Doesn't matter. :)).
----no gold in that equivalence.
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If you have a "good" beaver, you can trade for a lot of gold. :D
 

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Quote from Ricter:
----Thank you for a comment with some thought behind it.
----the real economy was once real men and real women, strong, hardy types, working the land. The US was largely an agricultural nation.
----This has changed dramatically....
----The rest of us are utterly dependent on it....
----we no longer do anything, many of us even remotely, useful for agriculture.
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Ag jobs have died out. Industrial jobs are dying out. Technology-related jobs should be next to go. What will be left after that?......We'll all become gardeners and farmers again and repeat the whole cycle. :eek: :cool:
 
Quote from nazzdack:

Ag jobs have died out. Industrial jobs are dying out. Technology-related jobs should be next to go. What will be left after that?......We'll all become gardeners and farmers again and repeat the whole cycle. :eek: :cool:
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Not all of us. The robot owners and their descendants will live their lives without performing ag labor, long, healthy lives full of leisure and luxury. But maybe with a little bit of fear, too. : )
 
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