Thursday, November 17, 2011
Posted by dkuehn at 8:44 AM
An interesting Slate video on the chemical properties of different elements and why gold has been used as money.
I found the part about radioactive elements interesting. They had two reasons for rejecting them:
1. Health risk, and
2. Radioactive decay - as they say "your money would disappear!"
Now, to a Slate columnist those sound like bad things. But to an economist worried about liquidity preference, that would be a feature, not a bug! Who would want to hold on to money if it depreciated rapidly and posed a health risk?
Silvio Gesell enters the nuclear age!