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reverie42 t1_j4hu7jz wrote

Reply to comment by khansian in The Gamification of Everything Is No Fun Adrian Hon’s book “You’ve Been Played” warns against the abuses of game logic in work and politics. by donnygel

They also assert that somehow being owed a debt counts towards your net worth, but having debt doesn't count against it, which is absolutely nonsensical. Meanwhile, they completely ignore how the net wealth of society actually changes (the creation and consumption/loss of things).

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Throwawayingaccount t1_j4oegwi wrote

> They also assert that somehow being owed a debt counts towards your net worth, but having debt doesn't count against it, which is absolutely nonsensical.

Have you looked at how money enters circulation?

Hint hint: it's because of shenanigans like what you just wrote.

(I'm explicitly not defending it. I think it's dumb, but it's what our financial system is based off of.)

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reverie42 t1_j4pc6nd wrote

Introducing more money to an economy is not the same as a loan.

In this case, you haven't created value in that case, you've simply fractionalized the value that currently exists. This is an important distinction.

Even with more loan-like things like treasury bonds, the instrument is a little more like a future (in reverse) than a loan.

None of these things create money on a balance sheet. There are huge benefits to owning assets and taking loans on them, but doing so does not mean you suddenly have no liabilities.

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