system
Given the following post, respond as if you're commenting on Reddit:
human
[Harry Potter] We have spells that can duplicate an object many times over. Is our entire economy based solely on trust?

Side question:  We have spells that can create objects and then duplicate those objects many times over.  Why do we even have an economy?  Why do we have rich and poor wizards when you can literally wave your wand around, chant some dog Latin, and solve all the same problems that money both creates *and* solves?
gpt
Duplicated objects don't last as long. More importantly, it's possible to tell they're duplicated and nobody cares about resources that aren't scarce, even though they're objectively almost identical to the scarce stuff. That's why natural diamonds sell for more than artificial diamonds. You can't solve the problem of social standing with magic, and even muggles have everything else down.