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concepts/financial-nihilism.md
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# Financial Nihilism
A philosophy on investing and markets in which [value](../value.md) does not exist or is inherently unknowable. The claims of this ideology stems from an underlying belief that [markets](../market.md) have no purpose and cannot or does not exist to do [price formation](../price-formation.md) on [assets](../assets.md) because of a belief that [capitalism](../capitalism.md) does not work.
A philosophy on investing and markets in which [value](../value.md) does not exist or is inherently unknowable. The claims of this ideology stems from an underlying belief that [markets](../market.md) have no purpose and cannot, or does not, exist to do [price formation](../price-formation.md) on [assets](../assets.md) because of a belief that [capitalism](../capitalism.md) does not work.
This is a belief system held by some who participate in [meme stock](../meme-stock.md) and [meme coin](../memecoin.md) projects.
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1. Gerard, David. n.d. ‘Confused About Dogecoin? Here’s How It (Doesn’t) Work.’ Foreign Policy (blog). Accessed 3 March 2022. https://foreignpolicy.com/2021/02/11/dogecoin-how-does-it-work-elon-musk-cryptocurrency/.
1. Glongloff, Mark. n.d. ‘Bitcoin, GameStop Are More Cults Than Investments’. Bloomberg. Accessed 2 March 2022. https://www.bloomberg.com/opinion/articles/2021-03-02/bitcoin-btc-gamestop-gme-are-more-cults-than-investments.
1. Klarin, Anton. 2020. ‘The Decade-Long Cryptocurrencies and the Blockchain Rollercoaster: Mapping the Intellectual Structure and Charting Future Directions’. Research in International Business and Finance 51 (March). https://doi.org/10.1016/j.ribaf.2019.101067.
1. Maddox, Alexia, and Luke J Heemsbergen. 2021. ‘Digging in Crypto-Communities’ Future-Making: From Dark to Doge’. M/C Journal 24 (2 SE-). https://doi.org/10.5204/mcj.2755.
1. Maddox, Alexia, and Luke J Heemsbergen. 2021. ‘Digging in Crypto-Communities’ Future-Making: From Dark to Doge’. M/C Journal 24 (2 SE-). https://doi.org/10.5204/mcj.2755.