What will happen if everything is free?

If everything is free, then nothing has value! If it has no value then it doesn’t get produced – so essentially the world would cease to function. Everyone would only be able to survive on what they alone could get/grow for themselves.

What if the world has no money?

If there was no money people wouldn’t really want to work anymore. They would rather spend time with their friends and family. The reason why many people will stop working is also because they won’t really see a reward at the end of the day. And if everyone stopped working, think about what would happen to the world!

What would happen if everyone was rich?

If everyone becomes rich ,the currency would have no value. The value of currency is given by goods and services in the nation. The total goods + services = Relative value of money.

Can the world live without money?

In a world without money the entire industries of banking and finance will become redundant. The jobs that will remain, and will be reinforced, would be ones that hold social utility the things that are necessary for survival and that make life worth living. A world without money also wouldn’t mean anarchy.

Is cash going to disappear?

Many experts believe the future could see a sharp increase in bitcoin and cryptocurrency being used as a payment method. These payment methods don’t even require any central banks or financial institutions. Although it is unlikely that cash will die out completely, any time soon.

Will we ever stop using cash?

Cash is still the second-most-used form of payment in America today after debit cards. But many advocates for “going cashless” believe that the paper dollar’s time is nearly up. While its use has certainly declined in recent years, cash will likely never disappear as those in the cashless movement would hope.

Who invented money?

The Chinese were the first to devise a system of paper money, in approximately 770 B.C.

Does all money physically exist?

In fact, economists estimate that only 8 percent of the world’s currency exists as physical cash. The rest exists only on a computer hard drive, in electronic bank accounts around the world.