Economy

Economy

As with technology, the world economy of New Earth is an odd mix of old and new. Again, this can be attributed mostly to the Great Collapse (with smaller, localized issues in places).

The world economy uses a Universal Credit system, allowing equitable trade with most cultures in the universe (along the same lines at the Galactic Common Tongue used for universal communication). While this is the "official" currency of the planet, it is not to only one. The Universal Credit system is totally computerized. Each person has an identity card that they can use to access their personal bank account. All paychecks are deposited directly into the account. The identification card acts as a debit card, with purchases transferring the credits from the buyer's account to the seller's (with all taxes deducted and routed to the appropriate treasury account).

When the Great Collapse happened, many computer systems were wiped of all information. Unfortunately, this meant that anyone not using an off-world bank to keep track of their credits lost all of their money. This had the effect of elevating the social status of many from low income families to upper class living, and lowering the status of some from multi-trillionaires to moneyless and homeless. Many governments took action against this by instituting temporary local monetary systems to boost their economies. The backlash of this lowered the equivalent worth of the Universal Credit. After a few years of shifting from one extreme to another, between credits and local money, a balance was finally reached.

Currently, the Universal Credit is the primary system of trade on the planet once more, with local economies gaging the worth of their money as compared to the credit. Some nations do not accept credits, only taking their own local money. Some nations only accept the credit, having since gotten rid of any separate monetary system. Even other nations will accept either system, but mark up the prices if using the non-preferred method of payment.