I’ve often wondered whether economics can be called a fundamental “science.” Much like physics can describe the rules of the game we call “reality” without a definitive answer as to how the game was set in motion in the primordial universe, so does economics seem to me to focus primarily on transactional mechanisms for value without a profound appreciation for how value materializes out of grey matter. Money is, or should be, an accurate measure of value, but ever since we moved away from bartering we have forever decoupled our transactional mechanisms (either in time or measure) from fundamental value, allowing us additional transactional flexibility in time and space, but also resulting in economic cycles, nothing more than periodic corrections to the coupling mechanisms.

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