J.S.G. Boggs: Dollar is All Act of Faith

Posted by admin on Saturday, January 28, 2017

J.S.G. Boggs Money Quote saying we put great faith in our currency, but few understand that it only works because of the value we assign it and our trust that others have similar beliefs. J.S.G. Boggs said:
 
It's all an act of faith, nobody knows hat a dollar is, what teh word means, what holds the thing up, what it stands for Quote
 

“It’s all an act of faith, nobody knows what a dollar is, what the word means, what holds the thing up, what it stands in for” — J.S.G. Boggs

 
and he continues “And that’s what my work is about” as an artist who explores the meaning of money in his work. Boggs died in 2016 with far less recognition than he deserved. Visit the related quotes from Boggs shown below for more on a great artist.
 

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This quote from J.S.G. Boggs suggests that the value of money is ultimately based on collective faith and belief, rather than any intrinsic qualities. The best interpretation is that Boggs is pointing out that while money facilitates exchange, its worth comes from generally accepted perceptions rather than any objective measure.

People don’t truly know the inherent nature or essence of currency – what gives it value, what it represents in the deeper sense. Its value relies on shared trust without definitive answers.

So in essence, Boggs sees the economic system and the role of money within it as dependent on an act of collective faith by societies rather than absolute certainties. Money’s worth is upheld by belief rather than fully understood principles according to this view.

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