The value of a dollar
Image from the Australian ABC After my North Korea trip, it was pretty easy to realise that there are some problems with the current form of capitalism, and it's worth trying to identify and borrow good parts of non-capitalist systems; unfortunately, I'm not really experienced in that area (by that I mean, I know effectively nothing), so trying to improve that by reading a few recommendations on the Marxist/Leninist side of things - Das Kapital and The State and Revolution (I know, Amazon links, oh the irony). In any case, I'm only part way through the first and making slow progress, but all the talk of commodities and the gold standard made me think about how we define currencies today. You see, way back when, coins were used to represent actual metal value - i.e. the british pound used to be the Anglo Saxon pound which was one pound weight of silver in value. This was nice in that it fixes the price of silver (i.e. a pound buys you a pound) but means that the ...