What will we use as money in 30-50 years time?
Posted: 09 Apr 2006, 09:55
Here is my basic assumption - As long as there are surpluses there will be governments and taxes and hence money will still be used
That being said, I believe gov. will be much smaller and people will be more self sufficient so money will be used less then as it is today. Global trade will still exist but will be based more on basic resources so again money will still be required. I believe there will be more then one type of money in circulation depending on the type of trade
Here are some types of money that will still exist.
For international trade, and the money of the "elite" there will be some sort of internet money based on actual gold or computer algorithm
governments will still issue money but given the interim years where some currencies may hyperinflate they again maybe backed by gold or limited in some way and credit will be far more limited then today
local currencies will spring up as a way for like minded communities to trade with each other in the absence of being able to get access to other sorts of money
I'll give the example of a fishing family as a reason why money will still be needed, the fisherman will have surpluses of fish and will want to buy other foods, parts for the boat and will need a mechanism of saving to replace the boat every 20 years for instance. For trading locally he could bater for sure but a community currency would be a way to access local goods and services (again could be internet based or voucher based). For paying taxes we will need to sell some fish to the towns and cities and receive payment in the state currency, and finally unless fishing is reduced to going out in row boats then he will need to be able to save up to buy a replacement boat or parts in the state currency.
Any thoughts?
That being said, I believe gov. will be much smaller and people will be more self sufficient so money will be used less then as it is today. Global trade will still exist but will be based more on basic resources so again money will still be required. I believe there will be more then one type of money in circulation depending on the type of trade
Here are some types of money that will still exist.
For international trade, and the money of the "elite" there will be some sort of internet money based on actual gold or computer algorithm
governments will still issue money but given the interim years where some currencies may hyperinflate they again maybe backed by gold or limited in some way and credit will be far more limited then today
local currencies will spring up as a way for like minded communities to trade with each other in the absence of being able to get access to other sorts of money
I'll give the example of a fishing family as a reason why money will still be needed, the fisherman will have surpluses of fish and will want to buy other foods, parts for the boat and will need a mechanism of saving to replace the boat every 20 years for instance. For trading locally he could bater for sure but a community currency would be a way to access local goods and services (again could be internet based or voucher based). For paying taxes we will need to sell some fish to the towns and cities and receive payment in the state currency, and finally unless fishing is reduced to going out in row boats then he will need to be able to save up to buy a replacement boat or parts in the state currency.
Any thoughts?
