Value is already decided, and set, the minute anyone even thinks about engaging in a transaction. And if they aren't thinking of engaging in a transaction, it is still the projection of transaction that decides value.
Each has his needs and wants, and each recognizes that there is another who has needs and wants. Transaction is thus born.
Attempting to make "sound money" is complete idiocy.
The only way that money ever comes into existence, no matter what, is through a transaction.
A transaction involves two or more parties.
Money does not preexist. Money does not exist prior to the transaction by which it comes into existence.
All the money you own and have ever owned came into existence because of some transaction. All the way right to the very beginning of that money is a transaction. The money began as a transaction. No matter what form of money. If it's "gold money" it came into existence in the very same way.
An economy is a social construct no matter what.
There is what we as individuals ascertain as having value and there is what society together ascertains as having value. This is called the common good. It actually benefits the individual. Very often, in fact, more often than very often, what the individual ascertains as having value and what society together ascertains as having value are harmonious, if not one and the same. Very often what the individual ascertains as having value comes directly from what the common good has already decided.
Everyone needs food. Everyone needs shelter. Everyone needs clothes. More than these, everyone has something positive to bring about, linked to their unique vocation, but are unable to do so because their basic needs cannot be met, or met in a way that is sane and proportionate in time.
Oh, but value doesn't really exist unless we make the money transactable between owners of gold! Yeah, good luck with that. LOL!
Money is a store of value? LOL!
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