What Is Money Actually?
A simple and quick explanation about why it exists, where it comes from, what it actually does.
In a perfect world, there would be no need for money. If humans could work together in the John Lennon envisioned sort of way, then all things could be attained without having to account for any of it.
Unfortunately, that’s not reality.
The Tragedy of the Commons is a problem in economics that describes how there will always be some people who simply do not follow the plan. In other words, there will always be people who screw it up for everyone else.
Now, if we could easily identify who those people were, then it would be simple to round them up and send them off to some island somewhere, right?
Wrong.
The situation in the Tragedy of the Commons largely exists because of a lack of information, or trust — or both.
Imagine All The People
Pretend for a moment that 10 people live by a tranquil pond and that the pond is plentiful with delicious and nutritious fish. Each day all ten people take exactly five fish for themselves — no more, no less.
For a while th…
Keep reading with a 7-day free trial
Subscribe to Utter Rubbish to keep reading this post and get 7 days of free access to the full post archives.