People Standard in Economics?

What would happen if a nation based currency on people (instead of gold, for instance) and printed money to hand to every adult - their share - when they reached adulthood?

I don't advocate this. It was just a thought. What do you think?

You have to be more specific than this. But I would guess money would most likely lose its value and people would invent an informal currency.

Originally posted by AThousandYoung
What would happen if a nation based currency on people (instead of gold, for instance) and printed money to hand to every adult - their share - when they reached adulthood?

I don't advocate this. It was just a thought. What do you think?

The dollar would rapidly grow in value relative to goods and other currencies. Even if the rate of money supply growth matched money demand growth in the US, there is a lot of demand for dollars overseas.

Edit: It could lose its value as KN suggests if people found that the eventual extreme shortage of dollars made them basically useless for currency so that a different currency became used for trade. Then demand for dollars would drastically fall.

Originally posted by AThousandYoung
What would happen if a nation based currency on people (instead of gold, for instance) and printed money to hand to every adult - their share - when they reached adulthood?

I don't advocate this. It was just a thought. What do you think?

I think what would be beneficial is if society adopted a stakeholder model of organization instead of a shareholder one. One could make the case that this would be a "people" standard instead of a "monetary" one.

Originally posted by rwingett
I think what would be beneficial is if society adopted a stakeholder model of organization instead of a shareholder one. One could make the case that this would be a "people" standard instead of a "monetary" one.

Expand please.

Originally posted by telerion
Expand please.

http://en.wikipedia.org/wiki/Stakeholder_theory