scriabinop23 and aradiel it seems have identified and explained the important points.
But to reiterate the essential point aradiel brought up, economically speaking it is GOODS and SERVICES that equates to wealth. Money is merely a means to that end. It is what greases the wheel of productivity. In that light people should realize why the credit crunch is serious. It is not the loss of paper or electronic money that is of primary concern. The problem is that people and assets that create goods and services will be unemployed and idled. That is the problem.
In the big picture if printing money, which is basically theoretical in value, could lead to sustainable full employment and the production of goods and services with real value that would be good. That is why there is such an emphasis in economics for the pursuit of the idea of full employment with increasing productivity.
But to reiterate the essential point aradiel brought up, economically speaking it is GOODS and SERVICES that equates to wealth. Money is merely a means to that end. It is what greases the wheel of productivity. In that light people should realize why the credit crunch is serious. It is not the loss of paper or electronic money that is of primary concern. The problem is that people and assets that create goods and services will be unemployed and idled. That is the problem.
In the big picture if printing money, which is basically theoretical in value, could lead to sustainable full employment and the production of goods and services with real value that would be good. That is why there is such an emphasis in economics for the pursuit of the idea of full employment with increasing productivity.
