View Single Post
Old 01-17-2018, 01:05 PM   #149
anderson
Awfully Cavalier
 
anderson's Avatar
 

Join Date: Oct 2008
Location: Dappertutto, come un Capo
Posts: 28,070
Posting Frequency


Casino cash: $618610
My Mood


anderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud of
anderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud ofanderson has much to be proud of
Quote:
Originally Posted by Oswlek View Post
Baron might be right about this, though he'd have the properties reversed. There is nothing inherently valuable about gold but, seeing as we're mere partially civilized apes, there appears to be something inherent to humans that finds value in shiny rocks.

Of course, this says nothing about what the value of gold is at any point in time, it just means that, even in a disaster scenario where gold becomes worthless, it will likely become valued again at some future point.
I don't disagree with the "ooh shiny" aspect, but I don't think that's a required property of money. And I wasn't being snarky (for once), but just interested in what Baron considered to be the required properties of money, and why, then, gold had all of them.

For me, portability is probably one of the most important requirements of money and I don't think gold does very well in that regard. I think it performs better in other areas which could be considered requirements, though (being hard to destroy for instance?).
__________________
  anderson is online now Reply With Quote