Consumers are so demoralized by inflation and high rates they've given up on saving for the American Dream and are spending money instead, economist says
Preflight_Tomato @ Preflight_Tomato @lemm.ee Posts 3Comments 107Joined 2 yr. ago

Preflight_Tomato @ Preflight_Tomato @lemm.ee
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Ultimately, the question is: "What is the dollar a unit of?". The answer is roughly "energy" in the physical sense, or effort/labor in more human language.
What I think is interesting is that then, the social and physical definitions of the word "power" collapse into the same thing; one with more "power" is able to expend more "energy", the labor of others, in a shorter time.
If you're really interested in the topic, read the book "Energy and Civilization: A History" by Vaclav Smil, published in 2017. It covers the efficiencies of tool use and how innovations in technologies that caused increased labor efficiency have catalyzed societal changes and revolutions, even going so far as to discuss GDP in units of Joules.