gift card
noun [ C ]
uk /ˈɡɪft ˌkɑːd/ us /ˈɡɪft ˌkɑːrd/
a card that can be exchanged in a shop or on a website for goods or services of the value that is printed on it
it's literally the same thing as cash, a check or a voucher.
it is also entirely dependent on the same external factors of cash, vouchers and checks: inflation, exchange rates, etc.
because it's simply a certification that you can spend that amount of money, in that currency, in that shop and that's it.
Also: a Patek Philippe is buying power as well
everything that can be exhchanged for something else can be defined as "buying power"
but an American Express or a gallon of water in the desert are buying power too.
I’d counter that buying power is the only metric that matters. All these abstractions of buying power may distract and distance you from this most important metric - often to the benefit of companies and nation states.
> I’d counter that buying power is the only metric that matters
I'd counter that protection of buying power over long periods is what really matters.
My CD collection had an enormous buying power in the 90s, now it's almost worthless.
I reckon one cannot rely on buying power of CD or DVD or VHS.
> often to the benefit of companies and nation states.
In this regards people, companies and nation states interests are usually aligned, i.e a stable currency that provides protection against wild fluctuations and retains its buying power and its usefulness.
Unless you are an enemy of the people, I don't see why someone should not like it.
Good points. Consider all the different investment instruments out there. Abstractions on top of abstractions on top of abstractions of buying power. Yes, a stable currency is desirable. But volatile abstractions are also beneficial to powerful entities.
it is also entirely dependent on the same external factors of cash, vouchers and checks: inflation, exchange rates, etc.
because it's simply a certification that you can spend that amount of money, in that currency, in that shop and that's it.
Also: a Patek Philippe is buying power as well
everything that can be exhchanged for something else can be defined as "buying power"
but an American Express or a gallon of water in the desert are buying power too.
the definition is too broad to be useful.