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phs318u 4 days ago

Lots of things that have a real effect in the world are a convenient fiction. The fact that most people on the planet believe that the small paper rectangles printed by the US government have some value, is a consensual belief simultaneously held but no less a fiction.

The rules based order of the world was once something people believed in, and therefore expected others to conform to. Until they didn’t (for lots of reasons all of which cumulatively perturbed the system such that it’s flipped from a stable state and into a meta-stable state).

sir0010010 4 days ago | parent [-]

There are a finite amount of the small paper rectangles available (yes the supply is increasing, but it is finite at any moment) AND these small paper rectangles are required in order for US residents/citizens that earn income in any currency in order to stay out of prison. So, in other words, not a fiction.

phs318u 3 days ago | parent [-]

And yet not all pieces of paper are believed to be equal. Some pieces of paper will buy you a loaf of bread and others will buy you a tank full of gas. The difference lies in the magic squiggles printed on the pieces of paper. In other words, the belief that a certain number value equals a fair exchange for a physical good or service. This is a consensual belief. If an extra 0 appeared magically overnight on every piece of paper, what has changed? People will believe they have “more” than they did before. If instead of magic, the government announced a policy of reissuing recycled bits of paper that have had an extra zero printed on them, would people believe they had “more”?