You're confusing things that you value in life with things with economic value.
Also you don't seem to see that something that stores your economic value better than anything else (the "infinite" outcome) would be of great value to your life.
You could also see it as economic value is commonly extremely divorced from any useful human measure of value. Enough money to feed the world is "made" and "lost" though market oscillations that aren't really based in any practical reality. Like Tesla being worth more than the rest of the next 35 car companies, say. Or just one of the several apps that calls a cab being worth the GDP of Kenya. Or the value of Bitcoin.
The fiction is that the market is an infinitely rational representation of value, denominated in the same units humans buy food and shelter with, and generally correlated with their ability to do so. But it seems "the economy" has less and less to do with life on the ground.
Economic value is entirely rooted in life on the ground, but it is simply the demand part of the equation.
Its equal to demand (in £) divided by supply (kg/gallon/BTC etc).
Market oscillations are all based in practical reality, but if they don't make sense, you're just not aware of their cause. For example, multiple traders around the world simultaneously buying /selling with high leverage according to obscure technical analysis of the price chart.
What distorts everything is that the value of what we measure economic value in is itself devalued by 50% every decade through supply inflation. Economic value over time != price over time.
I mean this is what all the textbooks say, but it's cold comfort to people who want bread, clean water, a roof and a warm bed rather than some economist-approved funny money on a graph somewhere.
Everyone's been told to trust the system, the market knows best. At this rate, I don't think they will continue to do indefinitely.
Now we're on a completely different subject, but that's fine.
Trust what system exactly?
If there was no poverty, there would be no motivation to work and build a roof over your head or grow crops to make bread. Unfortunately, the funny money that I show in the graph means that it's not a fair playing field.
If you want to fix the world, fix the money. The world is desperately in need of a digital money that can't be created with no effort, and by just a few select people (i.e. banks). The money we're using is toxic.
>If there was no poverty, there would be no motivation to work and build a roof over your head or grow crops to make bread.
The motivation would be to maintain one’s station, whether that station were impoverished or rich. Most of America isn’t in poverty, yet still works hard to try and achieve higher status, greater luxury, etc.
>the money we’re using is toxic
Is this the root cause behind productivity gains not going to workers for the last five decades? Genuine question, cause that’s the main issue I see.
> You're confusing things that you value in life with things with economic value.
If you think about it, the "economic" value is just the market trying to discover what everyone value in life.
> Also you don't seem to see that something that stores your economic value better than anything else (the "infinite" outcome) would be of great value to your life.
Finding a cure for cancer will be infinite value and most people will give anything for it - including all Bitcoins in the world. This - finding the cure of cancer - is the way better store of value than anything. The reverse is not true.
It's worthless. I wouldn't buy a litre of air for even a penny. But put me at the bottom of the sea, out of oxygen (i.e. no supply), and I'd give you everything I have for it.
Also you don't seem to see that something that stores your economic value better than anything else (the "infinite" outcome) would be of great value to your life.