What's the deal with money? Who determines its value? How much of it is there?

literally 100% correct

>Well, when it comes to fiat, its value comes from the fact that you need it for paying taxes.
i hear this bullshit a lot but it's just that bullshit. taxes were a thing even when they were paid in produce and money still had value then.

Money has no value, it is only a veil that recovers exchanges between economic agents.
More information can be found in the Quantity theory of money, which conclusion is that MV=PT M=PT/V, meaning the amount of money in the economy is only the result of the number of transactions multiplied by the price level, divided by the velocity of money.

not to mention you pay taxes after the money you earned you wouldn't need any money to pay taxes if you didn't got any money.

>Money has no value
that's just plain ass wrong money couldn't be money without having value, it must be a medium of exchange and a store of value among other things or it's not money.

if money is created through central banks (credit) and introduced to the economy by government spending it is debt, if it is mined it is different in a way i couldnt figure out yet

One of the value we could give to money is the confidence we give to it. If tomorrow nobody believes in the dollar or euro and starts paying only in bitcoins, your bank account will be worthless. It will of course never happen.

Money has no value because if you give everybody 1000$ tomorrow, which means an increase in wages by 100%, on the long run prices will increase by 100%. This is the sense of the equation MV = PT. The only true value is in the goods themselves.
Then the question would be rather what is value instead of what is the value of money. Marx stated, for example, that the value of a good is determined by the quantity of work the worker spent in it (time...).

(an increase of 100% in minimum wages ofc, ceteris paribus)

That's exactly what I do cuck.Go on ad continue to be a slave to kikestiein bigshot

>Money has no value because if you give everybody 1000$ tomorrow, which means an increase in wages by 100%, on the long run prices will increase by 100%.
what a retarded argument give everyone a free lambo and lambos will have no value. does that mean lambos have no value now? seriously step up your game assholes if you want to troll.

yeah well we abandoned bartering because it's not only inconvenient but it doesn't really work without debt and an intricate keeping of tabs. money just simplified the shit out of that. it's a convenience thing same as tap water. you can get water from a well bring at your home in a bucket spend hours of your day on water runs or just use the fucking tap.

If you give everybody a lambo, indeed it won't have any value, because if everybody has one, nobody will be akin to exchange it, thus it won't have any value.

You trade convenience for freedoms , I can't do that

Not true everyone has iphones and smartphone and they are still expensive as shit

lambos can be used to drive around. What can you do with a piece of paper or a few lines of code? Also, in your heart you know that if everyone had a lambo nobody would really give a shit about them anymore, but that's a separate argument.

economixcomix.com/

your welcome....

What you can do with a random piece of paper or random few line of code is nothing.
What you can do with a piece of paper or a few line of code that everybody believes has a value, everything. Historically, money we know today was known as paper-bank: instead of walking to the merchant with a bag full of gold, you were just giving him a paper-bank certifying you have the amount needed on your account. Hence was created paper money, which pillar is everybody's confidence in its value.

scarcity tends to determine value in many areas of life. for example, if a girl thinks you are "desperate" it means you are abundantly available, i.e. not scarce.
so supply and demand is a part of that.
but there are also other elements like quality that determine value, i.e. gold doesn't tarnish, has a beautiful luster, and can be melted down and re-formed over and over again without losing anything in the process.
kind of like how a Ferrari is valuable not because of the high price tag, but for its quality of design, engineering, and function.

so I think 1. scarcity and 2. quality play a big role in what makes something valuable. of course, we want to trade our valuables for other valuables, so we need something UNIVERSALLY valuable to enable smooth trade- that's where currency comes in. currency is a universally valued valuable, something that everyone will be willing to trade for. if I'm a farmer who sows $400,000 worth of crops this year, it's a lot easier to trade gold to a Ferrari dealership than to offer them 20,000 sacks of grain, so the farmer sells the crop in exchange for a universally valued value (like gold) that the Ferrari dealer would be more than happy to accept (generally thinking). we use fiat now, but gold was the standard currency for thousands of years.

note that fiat currency is neither of these, being literally little more than a print off of a square that I could do with my deskjet printer. what makes fiat valuable is more or less a third variable - threat. the USD is backed by the threat of military/police force (toward citizens and foreign entities alike). so it's kind of like our current currency is backed not by value in itself, but rather, by threat of force.

oh great, political bullshit.

>Marx stated, for example, that the value of a good is determined by the quantity of work the worker spent in it (time...).
That is communist bullshit: the value of a good is determined by how useful it actually is and what problems it solves. Regardless of whether someone slaved away on it or not. That's all.

youtube.com/watch?v=XNu5ppFZbHo