[msandford]

You're right of course that the reason money has low transaction cost is because it is widely accepted. But that's kind of tautological; if it wasn't widely accepted it wouldn't be money by definition.

In my mind the low transaction cost is a feature in that you can make snap decisions (or in many cases not make them at all) without having to explain yourself.

What I mean is that if I had to itemize every gallon of water, every kilowatt-hour (or watt-hour) of electricity, every cubic foot of natural gas, every byte I upload or download, etc etc etc to come up with their "true" values I wouldn't have enough hours in the day to do 10% of what I normally do.

So I guess my question is this: at what level of granularity is this being proposed? And if it's anything less than "full granularity" why? What I mean is why should utilities be any less valued than phone apps? I need that first gallon of water WAY more than I need Angry Birds, so it seems to me like that needs to be accounted for. But that would be exhausting. I can't see a way for me to take this proposal really seriously AND not simultaneously want to hang myself.

I think it's an interesting idea to be sure, and it's fun to think about. But I really hope I don't have to tell everyone how much I like water or electricity or whatever.