What if money ceased to exist?

[mharrington]

Sometimes I wonder what would happen if, all of a sudden, all money in the world were to end instantaneously and the world would have no money at all. They say that money talks, but what would happen if money was silenced? If that were to happen, what would be the effect?

 

[s8film40]

People would have to barter and trade, it would make things so much more complicated.

 

[unkadug]

There will always be something that will be used as trading tokens.

http://en.wikipedia.org/wiki/History_of_money

 

[mharrington]

This cynical voice in my head keeps saying that if money died, civilization will die.

 

[trr1]

didnt money die already? Credit cards, Debit cards, bank tranfers direct deposits and such its all just numbers now right. how many people still use money(pennys nickles,dimes,quarters,dollars)?

 

[miles1]

didnt money die already? Credit cards, Debit cards, bank tranfers direct deposits and such its all just numbers now right. how many people still use money(pennys nickles,dimes,quarters,dollars)?

When you stop to think about it, money itself was originally nothing more than a promise by the government to give you some quantity of a precious metal when you presented the currency to them. Therefore the world economy is built on nothing more than people making promises to each other to give them something of value other than money. Make any sense?

Following this logic, if currency were to cease to exist, I could then throw a few rocks at my mortgage company and tell them to go away with impunity. Not a bad deal.

 

[Steamboat_Kevin]

Everything would be a whole lot less expensive.

(zing!)

 

[mharrington]

Everything would be a whole lot less expensive.

(zing!)

Things would certainly be a lot more free!

Another question: what if capitalism ceased to exist?

 

[unkadug]

Things would certainly be a lot more free!

Another question: what if capitalism ceased to exist?

Perhaps it's time for somebody to study their Economics textbook.

 

[mkt]

Legalized capitalism (like what we have) or the idea of capitalism?

If it's basically removing what we have, we'd have more black markets spring up (true capitalism), but if it's the idea of capitalism, we'd likely revert to a more feudal way as opposed to socialism/communism.

 

[Monorail Lime]

Money or barter will always exist as long as there are limited resources of any kind. The requirements for a post-scarcity society are every material want can be immediately satisfied and no one can be influenced by material gain. Economics will only be abandoned when abundant energy and physical resources are freely available to all persons on earth and labor has been made completely obsolete by automation.

So basically it's up to the scientists now to invent a source of infinite energy and Star Trek style replicators.

 

[mharrington]

Legalized capitalism (like what we have) or the idea of capitalism?

If it's basically removing what we have, we'd have more black markets spring up (true capitalism), but if it's the idea of capitalism, we'd likely revert to a more feudal way as opposed to socialism/communism.

I was referring to capitalism, period.

 

[mkt]

I was referring to capitalism, period.

Then the second.

We'd revert to a more feudal state (albeit with the technological advances UP to the point of capitalism's demise), with increased state ownership/control of some industries and the complete dissolution of others.