Forum Name:
Global Economics
Entries:0
Last Updated: 2008-09-19
Subject:
Upon watching “Flawless,” a movie about a diamond heist, a statement was made implying that "if the world's diamonds were to disappear" the world's economy would collapse. My immediate thought was that “They're just a bunch of shiny rocks!” However, as I understand economics, if such an event occurred, be it diamonds, oil, gold, etc., the effect on the economy would be drastic.
My thoughts were “it's because they're 'real goods'” but it seems to me that of all the things to base a value system on, I understand how it has come that the world's economy is based on material goods, I just find it so hard to see how it is that the world allows it to remain so.
And that's when I thought that perhaps if I start this forum, perhaps someone could explain to me, for the world, why?
Description:
Upon watching “Flawless,” a movie about a diamond heist, a statement was made implying that "if the world's diamonds were to disappear" the world's economy would collapse. My immediate thought was that “They're just a bunch of shiny rocks!” However, as I understand economics, if such an event occurred, be it diamonds, oil, gold, etc., the effect on the economy would be drastic.
My thoughts were “it's because they're 'real goods'” but it seems to me that of all the things to base a value system on, I understand how it has come that the world's economy is based on material goods, I just find it so hard to see how it is that the world allows it to remain so.
And that's when I thought that perhaps if I start this forum, perhaps someone could explain to me, for the world, why?
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