Making Wise Decisions

Additionally, only concrete objects can remain independent from what they represent. So letters (like “a”), banknotes, precious metals, or electronic accounts, even if just imagined, are all concrete objects. While conversely, all purely concrete, objective representations of money must remain indistinguishable from their monetary value, despite any such value and its representation being always respectively private and public.

So every purely concrete, objective representation of its own monetary value is inherently problematic: its indistinction from the private value it publicly represents must privatize this whole public representation of that value. As thus, any such representation requires an impossibly private control of its always necessarily public, unsellable self, whether by people selling, buying, creating, or destroying it.

Even so, I can still control the monetary value of my banknotes. Indeed, we have long represented that value with objects as purely concrete as those notes, including precious metals and electronic accounts. Yet how could we do it? How did we solve the ownership conflict inherent in their privately public representation of money? How could all those privately controlled monetary representations remain public? The solution was to delegate their private control to a public monetary authority.

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