Comment on Modern Monetary Theory: Musk Edition

• UnderpantsWeevil@lemmy.world ⁨5⁩ ⁨days⁩ ago

  So it doesn’t change anything.

  It does, in fact, change things

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  • Blue_Morpho@lemmy.world ⁨5⁩ ⁨days⁩ ago

    I honestly don’t know what you are arguing about. If someone has $100 it is technically worth more than $100. If they give you that $100 you now have that $100 which is also technically worth more than $100. It’s the same $100 + unspecified future value either way.

    If you argue the $8.4 trillion in net worth of Billionaires is worth more than the $8.4 T, then if that $8.4 was taken from them it is also worth more.

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    • UnderpantsWeevil@lemmy.world ⁨4⁩ ⁨days⁩ ago

      If someone has $100 it is technically worth more than $100.

      If someone buys a house for $500k it’s worth $500k. But it’s also a place to live, which makes it invaluable to a person without a home.

      If the value declines to $400k then the net value is -$100k. But, again, the house has value as a place to live that humans need. Being underwater on your home isn’t the same as being homeless. And owning a million homes that lose value is very different than being broke.

      Use value and exchange value are different things. And saying you have $8.4T on paper means something very different than saying you control properties, equities, and IP that other people need, but can’t have, because you’re hoping to flip it for a profit.

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