Twetch ·
Some resources are generalized, meaning they have many edges.
Some resources are specialized, meaning they have few edges.
Twetch ·
Money is the most generalized resource. It is useful in exchange for any other resource.
Twetch ·
However, money is only one resource, and it cannot be used in and of itself to do anything.
Twetch ·
With that being said, it is possible for a given currency to be the only resource with a connection to certain other resources, or to be the only resource useful for a specific task.
This is what many people refer to, erroneously, as "intrinsic value".
Twetch ·
When you begin to understand the economy under this framework, you begin to see how money actually works, how capital structures form and dissolve, the role of the entrepreneur, the difference between price and value...
You begin to see the real economy.
Twetch ·
Approach the economy as a network and you will be able to see past the fallacious constructions of the "defunct economists" and instead see how the real structures function.