nathanm Posted March 1, 2013 Posted March 1, 2013 I don't see it as ironic at all. It's economic theory trolling on the part of the host. He didn't want to convey an idea about money, he just wanted to bait people. He didn't tell everybody that they could exchange the coin for $30 at the coin store. What you see in the video is really just the free market at work. Value is subjective. People want the tool that allows them the easiest means of exchange. A silver dollar is not that to them. You can buy whatever you like using FRNs, but try and use exotic coins and you're going to have a bad time. Nobody is interested in an economic treatise, they just want me to hand over the regular bills and they'll hand me the loaf of bread. The 'ignorant' people are just making the choice that makes the most sense to them. The man who did buy it valued it as a souvenir, which is fine too. The host assumes that his coins ought to be objectively valuable to everyone equally, but in practice it does not work that way. It's like trying to exchange tickets to the symphony with people in line for a Justin Bieber concert and smugly denigrating the fans for not taking the offer to hear The Superior Music.
Alan C. Posted March 1, 2013 Posted March 1, 2013 While you're correct, the video is still funny and makes a good point about the cluelessness of the average person on the street. He has made several videos like this. I can understand if people have strong reservations about handing over $20 because that will buy gas and groceries, but it's amusing to see people unwilling to pay $1, which people routinely spend on lottery tickets.
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