Inspired by Ryan Awa

The Impact of Money on Human Culture and Behavior

The Decline of Money's Value and the Rise of Short-Term Culture

As the value of money decreases, companies and governments have less incentive to save, leading to a preference for short-term projects.
This shift is evident in various aspects of life, such as games that can be completed quickly, cheap materials being favored over durable ones, and the popularity of fast fashion.

Human lifestyles are increasingly favoring short-term gratification.
This preference is reflected in declining marriage rates, increased divorce rates, and a lack of long-term projects carried out by multiple parties.
Political parties often engage in attacking each other rather than collaborating on long-term initiatives.

Today's dollar is a debt-based promise, with the government guaranteeing its future value.
This encourages debt-based consumption habits, such as the use of credit cards.
The rich, who can easily pay off their debts, benefit more from this system, while the poor struggle with debt and become poorer, leading to a widening wealth gap.

In the 1500s, when gold and silver coins were used, long-term storage of money was possible, enabling people to save and carry out long-term projects.
Examples include Michelangelo's frescoes, which took more than 5 years to create, and ancient Roman buildings that have lasted for over 1,000 years due to their durability.
In contrast, modern buildings and apartments often have shorter lifespans and may develop problems relatively quickly.

In her 2013 book "The Entrepreneurial State: Debunking Public vs. Private Sector Myths," Mariana Mazzucato argues that many of the most important innovations of the past century were the result of government-funded research and development.
Mazzucato distinguishes between "0 to 1" innovations, which create entirely new industries and technologies, and "1 to n" innovations, which incrementally improve existing technologies.
She suggests that before the 1970s, when the gold standard was still in place and governments had more control over the money supply, there was more funding available for long-term, high-risk "0 to 1" research projects.
After the gold standard was abolished in 1971, there has been a shift towards more "1 to n" innovations, possibly due to changes in funding priorities and the nature of money.

The nature of money and how it is determined could have a significant impact on the future of humanity.
The author's fascination with money has led them to study fintech, but the complexity of the subject is compared to that of quantum mechanics, with understanding becoming more elusive the more one studies it.