Money in the world

[CR]

How much is there? How would you go about answering this question?

 

(I know this is an odd thought exercise, but I think that an explanation of an answer may be quite interesting)

[enoch01]

How much is there? How would you go about answering this question?

 

(I know this is an odd thought exercise, but I think that an explanation of an answer may be quite interesting)

 

Nice thought exercise to burn the holiday calories...

 

Theoretically, "money" is an agreed-upon medium of exchange.  As such, I would say there is an amount equal to all current plus expected output of human endeavors.

 

If we talk about the specific bits of media (paper, gold, silver, rice, goats, etc), then I haven't the foggiest idea  :)

 

 

[Zorrofan]

If the US GDP is $14 trillion and represents about 40% of the global economy then I would guess $35 trillion. But thats just a WAG.....

 

cheers

Zorro

[twacowfca]

How much is there? How would you go about answering this question?

 

(I know this is an odd thought exercise, but I think that an explanation of an answer may be quite interesting)

 

A great question!  

 

How many angels can stand on the head of a pin?

 

Modern money is an abstract quality.  It can be anything an issuing government says it is. It is "of a prolific nature", as Ben Franklin said.  It can grow by compounding.  Or, it can grow by inflation. Paradoxically, if it inflates too much it disappears!  In that sense, it's like the idea that the universe may inflate until there is nothing left but a singularity.  No time.  No space.  Therefore, no circle of time.  Then, "in the beginning" BANG!  Creation ex nihilo.

[jb85]

http://www.metrics2.com/blog/2006/12/05/richest_2_own_half_world_wealth_bottom_50_own_1_un.html

 

 

$125 trillion in 2000 according to that website.  atleast that is one way to measure it