[lxgr]

Unfortunately it's also pretty clunky for tax reasons in many places and inherently deflationary (and as such problematic from an economic point of view).

Sure, great if you don't trust your government or whoever issues your local currency, but if you can, there are better alternatives. Trust is an asset, not just a liability.

[anonym29]

Well-placed trust is a small asset, but misplaced trust is a massive liability.

[lxgr]

It might not always be warranted, but where it was, increased trust in society, institutions, and systems has been the enabler for economic growth and human development in the past centuries. Talk it down at your own (or more accurately, at all our) peril.

[anonym29]

Economic growth and human development over the last several centuries has been the result of a complex web of interleaved prerequisites, that said, trust wasn't one them.

People trusted institutions for thousands of years prior to the scientific revolution. Europe had plenty of trust in religious institutions between the collapse of the Roman empire and the scientific revolution, and you know what it got them? Superstition, witch hunts, barbarism in the name of proselytizing, failed pandemic responses, and a near complete stall in technological and scientific breakthroughs for a millennium.

What the scientific revolution brought us was the decision to not trust, but to reason, to measure, to hypothesize, to verify. Facts matter. Humans are stupid and it is human nature to place trust exactly where trust is least warranted.

[hunterpayne]

"Economic growth and human development over the last several centuries has been the result of"

Fossil fuels...most of the growth from 1800-1970 was due to fossil fuels. Not sure why this is such a mystery to so many. Makes sense when you think about it from a physics POV. You use energy to move things, to make things, to travel to buy things, etc. Heck, the middle class wasn't a concept until the industrial revolution which was caused by...say it with me...fossil fuels.

[anonym29]

Like I said, complex web of interleaved prerequisites. Without the scientific revolution, hydrocarbons would remain almost entirely untapped.

But yes, energy was absolutely one of those prerequisites. Fun fact (you're probably already aware, but for other readers): there is a strong positive correlation between national energy consumption and national economic output.