Turn on thread page Beta

What would the world be like if money had no value ? watch

    • Thread Starter
    Online

    14
    ReputationRep:
    Or if it was never a thing ? Do you think it the world would be a better place, or worse ?
    Posted on the TSR App. Download from Apple or Google Play
    Offline

    16
    ReputationRep:
    (Original post by Ikhan1)
    Or if it was never a thing ? Do you think it the world would be a better place, or worse ?
    Money is the intermediary constant that equates two commodities, and it pretty much only exists because humans cannot possibly begin to memorise how much of any one thing exchanges for any other thing. It's taken on a life of its own since inception - capital, the finance industry etc. Intrinsically, money is linked to capitalism and exchange-value. Without money, and assuming the means of production would be commonly owned (the so-called "abolition of private property"), we are looking at a non-capitalist society that does not produce commodities for exchange on "the market", but for human use - that is to say, we prioritise use-value (what value an object can provide to its user) over any sort of gain, monetary or otherwise. So in a nutshell, a much better world.
    • Community Assistant
    Offline

    20
    ReputationRep:
    Community Assistant
    we would probs be trading rocks or ipads or kfc
    Offline

    20
    ReputationRep:
    maybe a rep-based system ?

    idk
    • Thread Starter
    Online

    14
    ReputationRep:
    (Original post by CoolCavy)
    we would probs be trading rocks or ipads or kfc
    Lol maybe, but would we even have iPads or kfc no money means there would be no need to work, right ? So would apple even exist, because ultimately brands are just money making schemes...ahhhh I love topics like this because there is just so much to think about !
    Posted on the TSR App. Download from Apple or Google Play
    Offline

    20
    ReputationRep:
    Zimbabwe?
    • Community Assistant
    Offline

    20
    ReputationRep:
    Community Assistant
    (Original post by Ikhan1)
    Lol maybe, but would we even have iPads or kfc no money means there would be no need to work, right ? So would apple even exist, because ultimately brands are just money making schemes...ahhhh I love topics like this because there is just so much to think about !
    if money didnt exist people would still find stuff to barter with, its not the physical money that's important it's the idea of currency. Paper and small round cylinders aren't worth anything unless we attribute value to it.
    Offline

    10
    ReputationRep:
    "Money was originally created to serve as a substitute store of value to bypass problems with the barter system. If you had an apple tree but needed eggs, you needed to find someone with a chicken coop who wanted apples. Currency allows you to perform barter by proxy." - Source: www.reference.com/history/money-created-7d98f23ee7972461

    You tell me.
    Offline

    17
    Neither better nor worse?Actually maybe a bit better.
    Offline

    14
    ReputationRep:
    Pretty poor.
    Offline

    22
    ReputationRep:
    Highly relevant considering the cryptocurrency debates (I still have no idea how on earth Blockchain works and how bitcoins have value)

    Money has done wonders to ensure that trades don't require either a goat for a book or "I owe you one"

    Overreliance on money as an identity has led to greed and has too powerful a grip on society, but as a whole it has done wonders
    Posted on the TSR App. Download from Apple or Google Play
    Offline

    19
    ReputationRep:
    (Original post by Ikhan1)
    Or if it was never a thing ? Do you think it the world would be a better place, or worse ?
    Money, specifically price, is an information carrier. It tells what goods should be produced in what amount.

    You just need money and free market prices to know what is the demand for what goods.
    Offline

    10
    ReputationRep:
    (Original post by That Bearded Man)
    Highly relevant considering the cryptocurrency debates (I still have no idea how on earth Blockchain works and how bitcoins have value)

    Money has done wonders to ensure that trades don't require either a goat for a book or "I owe you one"

    Overreliance on money as an identity has led to greed and has too powerful a grip on society, but as a whole it has done wonders
    Why does fiat money have value?
    Offline

    22
    ReputationRep:
    (Original post by runtime-error)
    Why does fiat money have value?
    Because currencies formed backed by a gold standard - where everyone trusted the value of gold
    Posted on the TSR App. Download from Apple or Google Play
    Offline

    12
    ReputationRep:
    Last time I read about this banks were lending 9 x what they had
    I'm not sure where it is now.
    Offline

    16
    ReputationRep:
    I cannot say what the world would be like without money, but I can tell you now that it would take a genius to come up with a better solution. Sure, money is extremely flawed and is why we have such inequality (the rich and the poor), but this comes down to the nature of human beings ourselves.
    Human beings have one goal, I think we can all agree, and that is to advance our species. How do we do that? Well, we've created a society for ourselves and that's a start, but we can't sit down on our bottoms and expect change to happen. So we create different jobs for us to do. That's the mark of an intelligent species.
    We've come across a problem though. Human beings often need a reason to do something. We have free will and we can think for ourselves, so there is no reason to work just because. We also often can't see the bigger picture, that is the goal, advancement of our species, because we're too busy with our own lives and our own perspective, so we need a reason to work. Ok. Well, let's have human beings work and in turn they can have essential needs and their wants. And that's where money comes in.
    Money gives us a reason to work. And by working, we achieve the goal. That's it in theory.
    Like with any idea, there are massive problems to this, but this is what we have right now. And it's working.
    So, to answer your question, what would the world be like? I suppose it'd be worse. We wouldn't reach our goal because there would be no reason to work to reach it. So, we'd most likely be halted in terms of progress. At least, that's the way I see it.
    Offline

    18
    ReputationRep:
    Vouchers, cryptocurrencies, adhoc 'I owe yous', giving shares, or giving a share in property or commodity, would exist instead, which are essentially money but with less stability. They're basically 'I owe you' notes, just like paper money says, but that paper money is far, far, far, more like to live up that promise in relatively stable countries like the UK as the history of our money systems have shown.
    Offline

    18
    ReputationRep:
    google pol pot
    Offline

    7
    ReputationRep:
    It would slow things down. It's essentially a simplification of a bartering system.
 
 
 
Poll
Is the Big Bang theory correct?
Useful resources

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.