Re: Why does gold have value?

In sci.econ, veg_all@xxxxxxxxx
<veg_all@xxxxxxxxx>
wrote
on 27 Dec 2005 10:40:41 -0800
<1135708841.268410.125440@xxxxxxxxxxxxxxxxxxxxxxxxxxxx>:
> I dont understand why gold is the base for all money? It has no
> practical use in society other than something that women desire. Does
> this mean that a woman's desire is more valuable than steel for
> example? Why wasn't steel, wood or food chosen as the base for all
> money?
>

But gold isn't the basis for money anymore -- certainly not here
in the US. I'm not sure what is the basis for money, anymore.

Of course gold has value because people value it. It's shiny,
it's useful (electronic connections are routinely gold-plated
to avoid corrosion), and it's relatively scarce. Also, it's
something people can hold onto in uncertain times.

I can't say why women value it, though, to adorn themselves -- but
it's clear that they do. (Me, I might wear a gold ring at most,
and I don't even do that.)

--
#191, ewill3@xxxxxxxxxxxxx
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