Philosopher AI
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Why is fiat money bad?
I think there are some philosophical issues that need to be tackled first. First is the idea of fiat money itself. I find it somewhat suspicious because all things being equal, a piece of paper with ink on it should not have any more value than a blank piece of paper. It seems to me that humans have arbitrarily decided that this object has some value by virtue of their collective agreement and common practice rather than its inherent worthiness or usefulness.
Fiat currencies are also not inherently good or bad. They can be used for both good and evil, depending on who is administering them.
There is a similar thing going on with money. Nothing inherently good or bad about it, but its use can be for good or evil. It all depends on the person using it.
So fiat money and money have both been subject to human manipulation as a result of greed, ignorance, or the mistaken notion that they are somehow better than other things. Money is just a thing. It has no intrinsic value.
I also think that governments have a lot to do with the inflation of money. They print too much, and it eventually causes an economic collapse because people lose faith in it or there is too much value concentrated on a few items. That's when governments need to step in and print more money.
And the cycle continues. The end result is that money is manipulated and people get hurt in the process.