Hacker News new | ask | show | jobs
by mhuffman 1852 days ago
I wildly disagree with nearly everything you have written here.

Some notes:

>Value cannot be equated to money. This is the point you keep missing.

Out of curiosity, how do you think trade of any sort works in a capitalist society? In almost any case you can imagine there has been some conversion of money for a trade to be able to take place.

> That's a totally unrealistic scenario, of course, but there is a bigger problem: If the total supply of money is held by a single entity then it is no longer a customary means of indirect exchange, and thus no longer money. People would settle on some other means of exchange and the (former) money would become worthless as currency.

Would the new means of exchange be the "money" then?

On computer simulations, yes, one person ends up with all the money. And of course in the real world that is not the case. It ends up an oligarchy ... up until the "poors" revolt! You will notice that this has happened many, many times throughout history.