A gold standard on a galactic level?

Posted by Allister0788 1 year, 8 months ago to Economics
3 comments | Share | Best of... | Flag

Is it feasible? Are there better elements suited for a standard of value? Some food for thought more than anything

Add Comment


All Comments Hide marked as read Mark all as read

  • -1
    Posted by CircuitGuy 1 year, 8 months ago
    As suggest, if we found a bunch of gold in space, gold would no longer be worth as much. People who want to trade using a raw material would have to find something else. This raises the question of why we would want to trade using something of intrinsic value. There is no limit to the value people can create. It seems like a step backwards toward barter to use a medium of exchange with intrinsic value. The value of a dollar or a bitcoin is a I know there is a market place of providers of goods and services who will accept it. They will accept it because they know someone else will accept it in a trade they make. Most of the value in the world, and maybe eventually in the galaxy, is in the things we create to provide for people's desires. Raw materials aren't that important. People keep making the Malthusian prediction that if economic output keeps increasing and compounding, as it has, we'll soon run out of oil and basic materials. It doesn't happen, though, because there's not a fixed ratio of raw materials to value. People find new ways to meet one another's needs with whatever's easily available.
    Reply | Mark as read | Best of... | Permalink  


  • Comment hidden. Undo