To me it’d seem that the only reason paper money is worth something is because enough people believe it is. And if that’s the case and more can be printed. There’s no rarity really either. I’d love to hear some explanations. Thanks.
In: Economics
Things are only ever worth what someone will give you for them.
You say that modern currencies aren’t backed by “anything.” Well, what’s the alternative? Gold? What is the value of gold backed by?
Nothing.
Gold is only valuable because people *think* it is valuable. The same goes for all currencies.
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