I’ve been trying to distill what a dollar means.
Seeing that every dollar is considered the same, that every dollar can buy the same donut says each person with a dollar has something essentially the same.
But not every one will buy the same said donut. Some will choose not to, some will not even know about the donut, and some might be denied the donut despite having the dollar (the reason by the external denier that, well, may vary to infinity. But we’ll get back to that.)
But barring that we all have mostly agreed that a dollar can buy anything that valued less than that dollar. And also to a lesser degree, we all agreed that the person possessing that dollar can choose virtually anything with that dollar.
I say lesser because most of us wouldn’t protest to someone buying a donut, or instead buying an apple. But if it was used for cocaine, then we get into murky territory.
But in a way, we could say that a dollar represents both something priced at a dollar, but at the same time—it’s a symbol that the collective we is letting something make a decision. It’s agency.
If a person takes a donut, then it’s stealing. But if that same person has a dollar, then it’s perfectly fine.
So there’s an individualistic function of agency and making decisions. But getting back to the denier, there is a collective function of valuation.
The collective (or specifically, a market) decides that a person has agency (they earned a dollar through work. We collectively deemed their work worth letting make an independent decision.) But the collective we also decided that a donut worth a dollar while a car is tens of thousands of dollars. But deeper still, we judge the decisions of the individual after the fact.
You bought a donut, it’s unhealthy but we get it. You bought cocaine, that’s bad and we will now restrict your future decision-making or agency (jail)
All of this is fairly obvious. But this gets interesting in an increasingly granular world. The notion of credit and digital currency is making an-once tangible symbol (currency) invisible, and returning back to its more primal form (agency, humans making decisions.) While our logistic systems (complete digital records of purchasing, user behavioral tracking) is making the collective side more automated and holistic.
Or to articulate each phenomenon in another way. Socialism presupposes a system of the collective dispersing to its individuals, but has always been hampered by scaling issues. While capitalism focused on the individual, but lacked the speed to keep up efficiently (aka also scaling issues.)
So as we advance our technology pass our current point, we’ll start seeing a system that is able to see both frameworks to their fullest expression. And ironically, as we traditionally deemed the two opposed to each other, they will increasingly look like the same system in the future.