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Could a renewable resource be used as a money standard?
People have already tried gold or silver, and now the fiat. Example resources are oxygen, sunlight, water, and the 24-hour day (time). e.g.: Total "H2o" cash or coins = the water that covers more than 70 percent of the earth. Currency such as this would be a reminder that oil addiction is overdue to end and the environment is important. There are resources that everyone has easy access to, even in poor areas. More than one could be chosen. Would the dollar still be used?
See "Time-based currency" below:
6 Answers
- Anonymous1 decade agoFavorite Answer
Why not get rid of money all together and just give people the basics of life; food, clothing, shelter and health care. Everyone would be more stress-free and the world could actually become a more peaceful place.
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- Anonymous1 decade ago
Paper is a renewable resource, and used as the money standard in most countries...
- 1 decade ago
Absolutely. Our money standard now is "faith". We believe that the federal government will back our dollars and therefore they have "value". As soon as that faith goes away, so does the value of the dollar.
- 1 decade ago
could it? yeah sure, but why would you? it involves too much transaction cost to change the current scheme of things, which works just fine.
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- Anonymous1 decade ago
Yes.
e-Money or Digital Money.
