Re:Global Currency

[Srinath S <srinaths@usa.net>]

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The whole problem (of global free markets and global currency) arises because
money is a representation of an intangible thing called "value". Some
commodity or service is of "value" to us if it meets our demands. The consumer
pays for something based on its perceived value to him/her. 

The problem with using energy is firstly the question of "measuring" the exact
amount of energy required to perform a task. For example, a fat person may
burn more joules to perform a task than a thin person. So should we pay the
fat person more than the thin person? :) 

And secondly the problem is also that something which has the same "value"
might require vastly different amounts of energies depending on the physical
location. 

Here is a question. Why is gold so expensive? I have thought a lot about this,
but cannot come to a conclusion other than "for historical reasons". One
cannot eat gold, gold is not hard as iron or lead, it is not light as lithium
or duralumin, it cannot be used to build roads, it cannot be used as manure,
it cannot be used to run machines, it cannot be used to write software... Its
properties that it is insoluble and malleable seems as arbitrary as anything
else. It is simply that, historically gold has been expensive and used as a
standard which continues today. 

Srinath 


Ideas for India: Building the future -- together 
http://www.ideasforindia.net/ 

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