Money has value only as long as some have it and others don't? True or false?

Question

Would like to know your thoughts.

Answer 1

The value is printed on the currency. It's what you do with it that gives it value. In a state of depression (such as Germany in the late 1920s), it took lots and lots (several wheel barrels full) of money just to buy a loaf of bread. People had the money, but it was pretty much worthless. The value of an object or service is purely a matter of supply and demand.
And, for the snide remark from an earlier poster. I was born poor. I amassed a small fortune and lost it. I amassed another small fortune larger than the first and lost that too. THAT one left me living in a storage unit for about three years. I was recycling soda cans long before it was cool. I've since managed to make a third comeback. Never once did I whine about my losses. While this house is EXTREMELY nice ($850 electric bill last month), I still smile when I think back to my days in that storage unit. That was one of the best places I've ever lived. What I have currently is very nice. But if I were to lose it all tomorrow, I wouldn't lose any sleep over it. What I have, I've worked to attain and never once demanded that someone else give to me that which I have not earned.

Answer 2

True. The less money that is in circulation in ANY country, the more valuable it is. The government could print enough money so everyone could have a million dollars or so, but the value will go way down because there is excess of it. It's simple economics. So, to revert back to the original question, it only has value if some people don't have it because if everyone had alot of money, we all, in a sense, would not have much of anything. Think of a cool new car. For example, when the PT cruiser came out, it was so popular, you had to be put on a waiting list to buy one because they couldn't make them fast enough. But, when Chrysler kept making more and more, the cars people bought when they first came out lost their value. Why? Because everyone had them now! The same goes with any product. Remember TY beanie babies? The list goes on and on. Money would be the same way.

Answer 3

False. It only has value as long as people are willing to accept it for goods and services. Even if everyone had a million dollars each we would still each have things and skills that another person doesn't have so we would trade either some of our money or our goods and services for the goods and services we need or want.

Answer 4

False. Money is basically an idea, so it only has the value we give it.

Answer 5

False. Money doesn't have value when no one has it. Remember Daniel Defoe's book about Robinson Crusoe? Crusoe had a lot of money on an uninhabited island but it was totally useless.

Answer 6

false money is the govenment promise that they have gold or goods to the value but thats not true now and the world is living beyond its own means

Answer 7

Actually it's more like...Anything has value if some people have it and others don't or can't. Just like diamonds, gold, land, and other things.

If anyone could have it and get ahold of it then it would be worth nothing, like air. But if you lived on a space ship and air was rare...it'd become worth alot too.

Answer 8

False. Money only has value when the gov't backs it.

Answer 9

No. It only has value if the people who have what you want believe it to be of value.

Bill Gates has money & he still percieves it to be of value so he keeps working to make more.

Answer 10

money has value as long as people believe it has value