If we someday live in a world governed by an artificial intelligence endowed with complete information and infinite processing capabilities, there might no longer be any role for money. But in that case, a major source of human freedom and autonomy will have been eliminated.
PARIS – We have forgotten the true virtues of money. We commonly view it in purely instrumental terms – as a device that facilitates exchange and stores value over time. Compared to bartering, coins and paper currency are profoundly convenient. But money is more than just an instrument. As Fyodor Dostoevsky famously observed, “money is minted freedom.” It supports our existence as autonomous individuals in a decentralized economy.
PARIS – We have forgotten the true virtues of money. We commonly view it in purely instrumental terms – as a device that facilitates exchange and stores value over time. Compared to bartering, coins and paper currency are profoundly convenient. But money is more than just an instrument. As Fyodor Dostoevsky famously observed, “money is minted freedom.” It supports our existence as autonomous individuals in a decentralized economy.