The world would become a kinder, more compassionate place to live.
People would help each other out, look out for each other. Hey, I have 82 oranges. Could I give you some in exchange for a bottle of cooking oil?
I really do have 82 oranges.
In other words, people would go back to bartering. They would also spend more time making, creating, or growing stuff with real value.
As opposed to the current world where people spend all day behind computers, trading one financial instrument for another without creating or adding any real value to the world.
On the flip side, it will also become harder to price or trade. Is 56 oranges really worth one bottle of cooking oil, or should I actually offer two bags of rice?
Things that we would usually throw away because we can’t get money out of it would start to have value again. Things like the 82 oranges I found in the dumpster.
And if that happens, people may start to lament that they have spent their entire lives accumulating money which it of itself doesn’t really have any value.
This first appeared in Quora.