A gold standard on a galactic level?

Posted by Allister0788 1 month, 2 weeks ago to Economics
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Is it feasible? Are there better elements suited for a standard of value? Some food for thought more than anything


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  • Posted by CircuitGuy 1 month, 2 weeks 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.
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