13-8a2 The demand for money stems from fundamental uncertainty about both the future environment and the future-self

Uncertainty principle in economics, as it were. Uncertainty arises because nothing can extend across the multiverse—that is, the fundamental uncertainty is derived from the laws of physics. Money allows you to cope with the uncertainty.develop

The laws of physics implied that something like money will be demanded, and it was delivered—the questions are what invented money, and whether money is invention or not.develop

“The desire to keep a cash balance stems from fundamental uncertainty as to the right time for making purchases, whether of capital or of consumers’ goods. Also important are a basic uncertainty about the individual’s own future value scale and the desire to keep cash on hand to satisfy any changes that might occur. Uncertainty, indeed, is a fundamental feature of all human action, and uncertainty about changing prices and changing value scales are aspects of this basic uncertainty.”

Next:

• 13-8a2a Money allows you to deal with change per se, since there is no substantive difference between changes in values scales of others and that of himself in the future
• 13-8a2.1 Money is the present good par excellence
• 13-8a3 Money must evoke the past, but the demand for money lies in the future

Related:

• 13-8 Marginal utility—as the quantity of the supply (stock) of a good increases, the utility (value) of each additional unit decreases
• On unpredictability
  • 1-2g2e What science and creative thought in general achieves is unpredictable creation out of nothing. That is, creation of knowledge. And so is biological evolution (i.e., life).
    • 1-2g2s7b You can’t justify the predicted value of the probability inductively, because theory (i.e., the laws of physics) provides the probability, not the experiment
    • 9-1b2 Inevitable meme variation is another reason why it’s impossible to predict how people will use your work and ideas
  • 2-2a ‘Emergence’ - Knowledge can be created out of nothing and is unpredictable
  • 5-1b1a2d Knowledge is by definition unpredictable
  • 5-1b3 How much we can change is also unpredictable
  • 9-4b2b1 We are free because we can create knowledge, and knowledge is unpredictable
• On uncertaintydevelop
  • 1-2g2t5a There is no such thing as the ‘same’ instance of a particle at different times - i.e., there is no such thing as speed of ‘one instance’ in the quantum physics (Heisenberg uncertainty principle)
    • 1-2g2t5b The term ‘uncertainty principle’ is doubly misleading because first of all fungibility is a physical fact and not uncertainty of anything, and second of all because it can be derived from more general principle of quantum physics
  • 13-1a1 The uncertainty of the future must be true because the contrary would completely negate the possibility of action
  • 13-1a2 The omnipresence of uncertainty introduces the ever-present possibility of error in human action
• How is money invented?develop
  • 13-1a3a2e Some products are produced because of the greater extent of the market
  • 13-1a3a2e2a Money and differences in the economy are reflexive
  • 13-1a3a2e3 Any prior money must necessarily trace its origin back to the original money