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Monetary Sysytem is evolutional, means, it has come through all possible systems
Humans need an incentive system beyond the idea of a perfect world. In my experience, I've met very few people that can think past what they want to eat for lunch. So, to think that we could all have the same no matter how hard you worked or how much you produced, to me, creates a disincentive for our society. I would love to see a huge push for socialism but it's just not in the cards right now. I also believe that wealth and poverty (not starving people in the streets but a lower class) are important to provide incentives. The problem is class mobility. This is where as an American, I would love to see changes in education in lower income communities and a change in the way public schools money is distributed. It's not fair that upper class family's have a better public school education with all the resources plus more, than lower income students. The upper class/middle class school children are probably looking to go to college anyways, it's the children that feel like college is out of reach that we have to captivate. I would have to agree that there is a large accumulation of of wealth in most westernized worlds that isn't being used for investment but rather self gain. The question is really here not whether to take the money from the rich but how to get the rich to spread their wealth through investment. We should find a way to produce incentives to move this money around instead of creating more classist rhetoric. I am by no means saying that taxes shouldn't be raised on the rich, rather that we need to work with the upper class rather than hate them. In the UK they have a system from olden times that provides incentive for the rich to give back. The house of lords, which to my understanding is basically people that have donated enough money to charity to hold power in their country (an incentive). The Monetary system is broken but just like anything in life, with logic and humanitarian thinking we can mend the cracks that have been build on greed.
In modern era, not possible. Barter system can be used, but it is not an effective system.
I would like to say that there is nothing wrong with the monetary system. It considered as an easy way of exchange system at this time. Human is always be human all the time whatever the system are. Although the world used barter or any other way, if there is still deviation of some human's head who love too much towards 'valuable thing' (money, commodity or other system), the result would be the same. So it is better to prevent that such 'deviation of some human's head'.
In addition, I agreed to Mr. El Safty, zakat tax fiscal policy and its distribution have to be done by right and fair way.
Barter system or exchange system
Barter system is primitive and means that individuals conducting the exchange of their products without the use of money
Or in other words, is to replace other commodity commodity. Any seller that the buyer is himself
Agreed Mr. Jetely.
If no one will value that paper and that coin that we call money, then everyone will go back to the barter trade system, just like what our ancestors have used before. But as what Mr. Mohamed has said, it is quite impossible now since humankind has already surpassed that age where everything under the sun has a value. Now, money resembles the value of all things.
Paper notes are the easiest way to deal for trade. The alternative solution is still not discovered.
If digital technology wants to present an alternate solution then it will be the exchange of self-profile number of likes (thumb up) for an item to purchase.
Like I want to buy an Apple but the owner of shop wants transfer of10 likes to his profile, from my own profile thumbs up balance. So this soft monetary system will make the whole world crazy for thumbs up balance. The person with no thumb up will be considering the poor person. But for this the whole world should keep in the pocket the touch screen mobile phones , password protected for easy dealing. New apps , new software will be used for easy excange even tranfer of millions likes.
i don't think that possible now may be in the past it easy to made
We have “TRUST/BELIEVE ”
There a many interesting answers ... my's is to exchange goods for others;
there is the credit system which the banks are already work with... and the higher your credit score the better you are able to purchase things like property, cars and get this for a better %iges on loans...
there are people dealing in gold, silver, diamonds... or other minerals, but than the monetary system been backed for a long time with gold, silver ....
If we barter eggs for milk ... this is usually done in a smaller community and the government can not control the sale or collect taxes
carrying around gold or other commodities would get heavy ...
