No. 4: What Is Tokenized Time?
Here’s my most favorite idea from the year. Time is truly valuable. In fact, George Gilder calls money “tokenized time.” That idea forms the foundation of his upcoming book, Life After Capitalism. But what the hell does it mean? In short, Mr. Gilder thinks wealth can be measured by how long it takes someone to earn the things they need to live. His theory helps explain why Wall Street isn’t bothered by the government’s money-printing spree… and why gold is still trading sideways despite all of the factors in its favor.