Topic: What is currency? - page 3. (Read 3571 times)

All units of measurement are very subjective, people said the same thing before they defined an inch. Length is very subjective or weight is very subjective or g force is very subjective... is all very much a matter of opinion, but when we all share the same opinion something cool happens it becomes a matter of fact length is no longer subjective when we all accept the unit of an inch and when we all accept a unit of the measure of value it will no longer be subjective. 

Value is very subjective, same thing never has the same value 10 years ago or in another country, it is changing constantly

Weight = kilogram
length = meter
temperature = Kelvin

Use the SI-system...


Work or energy is sensible. Everything can be presented in it. Though it's very complex. And immaterial stuff is rather hard...

My argument is that currency is a measurement system to try and quantify value.

If currency is the measurement of value what is it's unit of measurement?

Every system of measurement on the planet depends on a unit of measurement.

weight      =  pounds
length      =  inch
work        =  joule  
brightness = candles
time         = second
value        =  ?

What is a unit? "a quantity chosen as a standard in terms of which other quantities may be expressed."

Who chooses that standard? We do! people just start to all agree on a unit

The first thing people say is that value is subjective, but all of the units of measurement are a matter of opinion that we all share. What is subjective to the individual is not true of man kind in general. It may be true that a individual may not value food but it is not likely to ever be true that mankind would not value food.

So if currency is just a yardstick to measure value of real things it is just a tool, like a protractor, compass, tape measure but it has no lines on it. To give currency lines we have to all define and accept a unit of value.

I suggest 1 joule of work = 1 unit of currency

When we define a unit of currency it will no longer be subjective when we all believe something it becomes objective.

The only way to ever measure anything is against a point of reference.
 

This is what is says on wiki about money--

"Measure of value
Money acts as a standard measure and common denomination of trade. It is thus a basis for quoting and bargaining of prices. It is necessary for developing efficient accounting systems. But its most important usage is as a method for comparing the values of dissimilar objects."

There is no system of measurement that does not have a constant, not one of them no matter how subjective they may seem every system of measurement has a unit! The measure of value is no different the above statement is not true and will not be true until a unit of value is accepted.