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How does a labor backed currency work?
How does a labor backed currency work?
It requires the correct demographic. Germans are pretty much the world's best demographic when it comes to labor, output, and efficiency.
Their currency was backed by one hour of a German man's labor. That only works with Germans, as a mexican man's hour of labor will obviously be worth less. An african man hour of labor, well, you know.
It requires the correct demographic. Germans are pretty much the world's best demographic when it comes to labor, output, and efficiency.
Their currency was backed by one hour of a German man's labor. That only works with Germans, as a mexican man's hour of labor will obviously be worth less. An african man hour of labor, well, you know.
I meant logistically.
I meant logistically.
what do you think currency is?
what do you think currency is?
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