DarkRange55
🎂
- Oct 15, 2023
- 2,421
I am NOT an economist, as I have said millions of times. However, a long time ago I had a paper toward a theory of economic relativity - unbridled capitalism is not the solution for the future and neither is pure communism. However, do you see a change in the monetary system in the coming decades as a means towards facilitating better decision making in society?
@noname223
@lamargue
Money is really a standardized utility. Utility comes out of Game Theory and Decision Theory, its basically what makes things rational. You've got to maximize utility that way you come up with rational behavior. The monetary economy right now is not necessarily rational…
See:
en.wikipedia.org
en.wikipedia.org
English philosopher and economist Jeremy Bentham, introduced the idea of utility in the context of utilitarianism, which suggests that the best action is the one that maximizes overall happiness or pleasure. Later, economists like William Stanley Jevons, Carl Menger, and LĂ©on Walras further developed the concept, integrating it into marginal utility theory and the foundation of modern microeconomics.
Though I do believe in the efficient market hypothesis especially today
en.wikipedia.org
@noname223
@lamargue
Money is really a standardized utility. Utility comes out of Game Theory and Decision Theory, its basically what makes things rational. You've got to maximize utility that way you come up with rational behavior. The monetary economy right now is not necessarily rational…
See:
Irrational exuberance - Wikipedia
Irrational Exuberance (book) - Wikipedia
English philosopher and economist Jeremy Bentham, introduced the idea of utility in the context of utilitarianism, which suggests that the best action is the one that maximizes overall happiness or pleasure. Later, economists like William Stanley Jevons, Carl Menger, and LĂ©on Walras further developed the concept, integrating it into marginal utility theory and the foundation of modern microeconomics.
Though I do believe in the efficient market hypothesis especially today
