The new government will need to make changes to the whole meaning of money. Money should be a devise to facillitate work and commerce, and avoid the need for barter. That way you do work, get money and use it to buy goods and services, which are provided as the result of someone elses work. Untill the first world war, the money in use was worth something, it was made of silver, and larger sums of money were gold or paper backed by gold. For 200 years from about 1700, England controlled a large part of the words economy, with its Empire, and as a result of the Industrial revolution. It more or less managed to keep money stable througout that time. A shilling would buy around the same amount througout that period. There were problems of course, but they were not caused by money itself. Now most people only have a figure on a bank’s computer screen.
Money should represent work.
Reply