"Money is an information system for labor allocation." Elon Musk explains money
Audio provided by @blyzedog Editing done by me.
@AdrianDittmann And if you could actually legislate wealth, everyone would be a trillionaire
@AdrianDittmann labor allocation? Or goods and services allocation?
@AdrianDittmann Thank you for highlighting and posting this. 🙏🥰🥰
@AdrianDittmann How many people think so sensibly in terms of the big picture and how things affect everything else, and then expresses it in simple terms that hits different? And better!
We learn that labor has a utility function to convert into goods and services. Talking about Labor allocation means labor is an asset and the can be négociated or traded. Saying that money is an information system, reduce money as and asset provider ie labor whitout any conversion. Thus, Elon need to elaborate, this is not clear, at least to me. We are in between Marx and Riccardo with Elon’s statement
@AdrianDittmann If you have $1 trillion in cash on a lonely island, you can build a nice shelter with the dollar bills. Just saying.