Question

When there is no gold or another metal how did the money arises

Answer 1

Answer:

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Explanation:

The paper proposes a social history of the value of gold that stresses its connection to the acquisition, use and defense of social power. Gold’s natural scarcity has continually been reinforced by an artificial scarcity arising from how powerful groups have used it, but the ruling class monopoly of control has alternated with periods of more widespread social access. In one period, gold is very closely held by a small number of very high-status people, followed by a time, often related to war, when the distribution of gold is significantly expanded socially. Then gold is drawn back in to the center and is closely held once more. This pattern is evident in Antiquity and, surprisingly, the 20th century. The paper explores the way in which the value of things established under one social order may continue to inflect the perception of value in later periods.

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Answer 2

Answer:

The metal is abundant enough to create coins but rare enough so that not everyone can produce them. Gold doesn't corrode, providing a sustainable store of value, and humans are physically and emotionally drawn to it. Societies and economies have placed value on gold, thus perpetuating its worth.

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