How long do you think monetary system is going to last?

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  1. maticmagister profile image57
    maticmagisterposted 7 years ago

    How long do you think monetary system is going to last?

    How long will it take before we evolve again and what do you think it's successor will be?

  2. Cindy Phillips profile image60
    Cindy Phillipsposted 7 years ago

    I don't know the answer to that, but I would be very happy if we went back to a barter system. Perhaps then people would learn to appreciate each other again, rather than being so focused on material things.

  3. W. K. Hayes profile image92
    W. K. Hayesposted 7 years ago

    The economic system that is in place has actually been around for thousands of years. Originally, humankind would trade one item of value for another item. In time, Gold became the currency of choice since it was valuable.

    Unfortunately, money will be around so long as people continue to refuse to work simply because a job needed to be, done. The only solution to removing money from the world would be that all people work together for the common good of humankind by doing what needs to be, done versus monetary incentive as envisioned by Gene Roddenberry.

    Still, having a better understanding of why money was, first implemented, will also answer the question of why, it will continue to be, used by people. People trade labor in return for money, which actually started several thousand years ago when Egyptian workers were paid with Sala, or Salt. Salt was a valuable commodity back then and today, we use the derivative of the word Sala for Salary.

  4. profile image0
    Butch Newsposted 7 years ago

    we must adapt to a global currency.  That may be quite a long time coming yet.  Money will never go out of style.

  5. bgamall profile image84
    bgamallposted 7 years ago

    A global currency means loss of US sovereignty. We already lost some sovereignty with ponzi housing loans cooked up at Basel 2 in 1998 through permitting off balance sheet banking. Off balance sheet banking allowed the hiding of loans that were suspect.

    So I don't trust the new world financial system and you shouldn't either. So a one would currency would be a terrible idea.

    Stand up for the sovereignty of the nations, which can peacefully avoid war if they try harder. Sometimes the will to do what is right for the world is forgotten because of greed and power.

    We see the problems with the Euro, and if things get tough people still may seek safety in the dollar for some time to come.

  6. philirodje profile image59
    philirodjeposted 7 years ago

    Monetary System will last as long as forever i think.

  7. nightwork4 profile image61
    nightwork4posted 7 years ago

    hopefully it lasts forever. if we chage into something global, it will make it so every country is responsible for other countries regardless of how much they offer to the pile. in theory a global economy is a good thing but i think in reality it will mean the end to individualism for a country.
    the only thing that may work would be a barter system that is set up by all .

  8. profile image0
    Old Empresarioposted 7 years ago

    By "last" I assume you mean the point where people stop using the US dollar for anything other than toilet paper. Check out the rate of inflation and that should give you an idea. The value of the dollar drops every month thanks to the Fed cutting interest rates. The government is fighting for long-term survival by inflating the dollar to sneak out from under its debts to the eastern nations. It's doing this very slowly knowing that few will notice. Prices are increasing everywhere. I don't know what the monetary successor will be. I would expect a gold standard currency if I look at historical parallels.

  9. profile image49
    Andy the Greatposted 7 years ago

    A monetary system will still be in place for the foreseeable future. We're no where close to doing away with the concept of currency. It's the easiest quantifiable means of controling power. Until humanity evolves away from the need for power, we'll continue to have currency. It's so deeply rooted in us that I doubt we'd still be calling ourselves human by then.

 
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