This just in—the economy is a construct.
I know. That’s not news. We usually think of the economy in terms of paycheques and employment rates and the price of electricity and groceries. But the “economy” is like a strange fantasy world where we exchange pieces of paper for the work we do. Somebody somewhere put a value on that work, and we more or less agree with that value. The things we buy are also assigned a value. Sometimes that value changes.
It’s pretty weird when you think about it that way.
