is it a fair assessment to say that the values of our economy are becoming increasingly virtual?
Ejsenstejn asked:
What I mean is that while for most of history, currencies were tied to some real commodities, but this is no longer the case (since a couple of decades).
What I mean is that while for most of history, currencies were tied to some real commodities, but this is no longer the case (since a couple of decades).
Similarly, stock values seem to be quite detached from real, physically existing properties.
From this perspective, most of the “value on paper” of our economy is not tied to any real-life values.
What do you think of this reasoning? Should I be worried about this (an implication is that most of this virtual value can disappear overnight if people don’t believe in a potential future conversion into real values any more)?
Or am I missing something here?
Virtual Adviser
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