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To paraphrase Bastiat, the difference between a good economist & a statist economist is that the good economist thinks of the seen & unseen costs, whereas the statist is conditioned, like a dog, to never see anything wrong with his paymasters' actions
One of the most mendacious ideas Marxist nuts have popularized is that "money is a social construct" or a "shared hallucination", and that anything can be money if we all just believe hard enough in it. This has of course been very popular among all Marxist regimes & politicians.
Yes, idiots, anything can be used as money, just like anything can be used as toilet paper, but choices have consequences. How will humans react to the incentives created by a money? What will secure it? How can they fail? Who controls the supply? Not Marxist questions of course!
People are free to jointly "hallucinate" anything as money, but that will raise its price & incentivize more production of it, bringing the price crashing down, destroying the wealth of those who used it as money, making it stop functioning as money at all. Many such cases!
Your "hallucination" may help you mistake Marxists for sane people worth listening to, but it can never overcome the brute force of economic reality which will punish you mercilessly for choosing an easy money, like it's punished anyone who ever listened to Marxists.
Marxists also "hallucinate" that govt & bank debt can be used as money. But their little brains cannot think of the consequences: Government & banks will have incentive to create more money by creating more debt, ensnaring everyone in debt & devaluing the currency & ruining it.
Govt money also means an economy is now dependent on the survival of a political regime, as well as all its military adventures. These hallucinations require continuous mass murder to bring to reality, but when's that ever discouraged Marxists?
en.wikipedia.org/wiki/The_Black…
But what happens if people hallucinate that their money is something hard to produce, like gold? It's hard for others to produce more of it & destroy its value. It incentivizes everyone to work hard to earn it, rather than to try to create it from thin air. We've seen the results
Some things function well as money while others don't & will destroy their holders. Marxist theories' hallucinations change nothing about this, they only confuse people into holding bad money, which makes them easier to enslave by bloodthirsty Marxist megalomaniacs.
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