Money as debt 3
A really good look at money which goes on to explain major theories of how different types money can succeed or fail.
Its worth pointing out that early on in the movie the concept of money as flow is important, this is a good explanation of the economic concept of ‘velocity of money’.
Velocity of money broadly speaking is the number of times (on average) a single unit of money is spent in a year. This concept may seem to be mere trivia until you realize it is very important in calculating inflation.
It concludes that money really is a promise to provide goods and/or services in the future, and that money is only as good as that promise.
Another great find from the mikiverse.
The really interesting parts of this experiment are:
Despite the fact the game is clearly rigged in favor of the ‘rich’ player, the ‘rich’ somehow feels their own skill allowed them to win the game.
When a rich player in the real world plays the ‘poor’ player in the game, their world view changes, they see that initial (and continual) privilege is not fair.