Re:Global Currency

[Srinath S <srinaths@usa.net>]

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Padmanabha Rao <kvprao@igidr.ac.in> wrote:

Well, it takes enormous amount of energy to extract it and then it doesn't
corrupt easily, actually pure gold doesn't corrupt at all in the normal
earth atmosphere. So, if people valued these properties for their
decorative ambitions (and once dal, kapda and makhan is taken care of
decoration comes next?), then it would be naturally priced high.

>>>>>>> 

I had sent an earlier reply, but for some reason it has not appeared. 

Well, today we have many polymers that don't take as much energy as extraction
of gold but still are just as robust and uncorruptible as gold. So why is gold
still expensive? 

And anyway, money is ultimately information. And we have much more efficient
and robust means of information storage and retrieval than physically
representing information in terms of an uncorruptible physical artifact like
gold. 

Srinath 



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

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