How would you buy food, clothing, or favorite items when the money in the world completely disappeared?
This may sound like quite a fiction, but in fact, money is also the equivalent of the highest liquidity common currency to exchange goods and services. And of course this is due to our human nature and agreement. A currency is worthless if no one recognizes it.
A currency is worthless if no one recognizes it.
Before paper money, mankind used coins made of metal, and in the past, we even had feathers, seashells, or stones to exchange like "money". And upstream to the ancient past when people lived in small clans, people exchanged goods directly with each other without intermediaries being money.
Of course, comparisons with our ancestors today are pretty lame, but to show that people never knew the concept of money, they still survive and thrive. So if today all the money in the world suddenly disappears, what would our society become? Possible cases, both pros and cons, will be briefly presented through the scientific video below.