The foundational idea behind money seems to be:
Be of “value” to others, by involving in selling something. Earn “value” in return, by earning money.
Some problems are:
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This “value” earned, namely money, is often unequally distributed.
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Value to other people isn’t the only measure of value.
For eg, consider Scientific Discoveries which improve Knowledge but don’t translate into direct value for other people. -
People have often unfairly unequal opportunities to participate in value creation.
Is there a simple “solution” to economic inequality people are missing?
To study: Countries with less economic inequality, like Norway and Finland.
Institutions can make it easier for people to participate in value creation?