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Why we cannot base our global economy on gold...

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Anonymous Coward
User ID: 502659
10/14/2008 3:28 AM
Re: Why we cannot base our global economy on gold...Quote

How about a system where the amount of currency in circulation is strictly defined by the amount of population in a country. The best way to regulate this would be to issue every newborn baby X amount of dollars to be accessed when he/she is 18. And give congress control over what X will be.
 Quoting: Anonymous Coward 471866

Here's a Idea I heard years ago. Every person has 24 hours in a day. Every day each person living is granted 24 credits. Regardless of how they live their lives. These credits are then used to purchase raw materials, and goods produced by those that by their labor turn the raw matericals into physical capital -farming, manufacturing, becoming doctors, scientists, artists, entertainers, etc the whole range of human endeavor. When a person dies, the credits they are still holding are vanished or recyled to someone that was just born. This is a Credit Economy and not a Monetary Economy. But of a truth it is different than that set up by the US Constitution.
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