So: I was using “utility” there to mean “representation of utility”. In fact I did previously say that money was a “representation of utility”.
This is a case where there are only really representations. Utility is defined by its representations (in its “that which is maximised” sense). Without a representation, utility doesn’t really exist.
To be more sepcific about about hyperinflation, that is a form of utility counterfeitting. It’s on the “wireheading” side, rather than the “pornography” side. This isn’t really an analogy, but an instance of another phenomenon in the same class. Hyperinflation produces poor outcomes for countries, just as wireheading produces poor outcomes for those that choose it. This is a similarity—not a difference. I am not sure why you don’t recognise the relationship here. Are you sure you that have thought the issue through?
So: I was using “utility” there to mean “representation of utility”. In fact I did previously say that money was a “representation of utility”.
This is a case where there are only really representations. Utility is defined by its representations (in its “that which is maximised” sense). Without a representation, utility doesn’t really exist.
To be more sepcific about about hyperinflation, that is a form of utility counterfeitting. It’s on the “wireheading” side, rather than the “pornography” side. This isn’t really an analogy, but an instance of another phenomenon in the same class. Hyperinflation produces poor outcomes for countries, just as wireheading produces poor outcomes for those that choose it. This is a similarity—not a difference. I am not sure why you don’t recognise the relationship here. Are you sure you that have thought the issue through?