Crawl Across the Ocean

Monday, November 20, 2006

Nickel For Your Thoughts

Longtime readers will recall that I am anti-penny. So I thought I'd mention in passing this article where pro and anti-penny supporters argue through the case for getting rid of the penny. I'm biased, but I think anti-penny Robert Whaples has much the better of the debate.

2 Comments:

  • You'll find an equally excellent argument getting rid of the nickel. I'm in favour of scrapping both the nickel and the penny. There's just too much fiddling around with metal.

    I believe the best approach is to look at the fraction of labour it takes to earn said amount - to earn 10 cents at minimum wage (at least in BC) you'd need 45 seconds. A hundred years ago when half-pennies were scrapped I believe the minimum increment was closer to 5 minutes labour.

    The other way to approach this is to re-scale the currency 1:10 (like a reverse stock split) but I'd estimate astronauts landing on Pluto will happen before they get around to doing that.

    By Blogger Sacha, at 10:01 PM  

  • Indeed, I'd be happy to see anything smaller than a quarter disappear, but I figure we need to start small.

    By Blogger Declan, at 11:45 AM  

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