Fictional currency

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A "cubit", a fictional currency on the Battlestar Galactica sci-fi TV series. Cubit Prop Battlestar Galactica (1978 TV series). Reverse side pyramid grid design.jpg
A "cubit", a fictional currency on the Battlestar Galactica sci-fi TV series.

A fictional currency is some form of system of money defined, depicted, or alluded to, in works of fiction, such as novels, films or video games. The names of units of such currency are sometimes based on extant or historic currencies (e.g. "Altairian dollars" or "Earth yen") while other names, such as "Kalganids" in Asimov's Foundation series, may be wholly invented. A particularly common type, especially in science fiction, is electronically managed "credits". [1] [2] In some works of fiction, exchange media other than money are used. These are not currency as such, but rather nonstandard media of exchange used to avoid the difficulties of ensuring "double coincidence of wants" in a barter system.

Contents

Concept and creation

Coin props depicting a fictional wizarding currency in the Harry Potter fantasy films. The Making of Harry Potter 29-05-2012 (7415385922).jpg
Coin props depicting a fictional wizarding currency in the Harry Potter fantasy films.

Authors doing worldbuilding and creating imaginary societies have to take care when naming fictional currencies because of the associations between currency names and countries; recognizable names for currencies of the future (e.g. dollar or yen) may be used to imply how history has progressed, but would appear out of place in an entirely alien civilization. Historical fiction may need research. Writers need not explain the exact value of their fictional currencies or provide an exchange rate to modern money; they may rely on the intuitive grasp of their readers, for instance that one currency unit is probably of little value, but that millions of units will be worth a lot. [3]

Currencies in science fiction face particular problems due to futuristic technology allowing matter replication and hence forgery. Authors have proposed currencies that are incapable of replication such as the non-replicable "latinum" used by the Ferengi in the Star Trek universe, or the currency in Pandora's Millions by George O. Smith, which is booby-trapped to explode if scanned by a replicating machine. [4] Money in fantasy fiction faces analogous challenges from the use of magic; in the Harry Potter series by J. K. Rowling, magically created currency is time-limited, while in Ursula K. Le Guin's fictional realm of Earthsea , the world's equilibrium is unbalanced when something is created from nothing. [4]

In the Demon Princes pentalogy by Jack Vance the currency "SVU" or Standard Value Unit was described as being employed on most major settled worlds and as having a value equivalent to one hour of unskilled labor in standardized conditions. Its printed notes were verifiable by scanning with a device called a "fake meter", the function of which comprised a critical theme of the second book in the series, The Killing Machine . The protagonist undermines the system and prints 10 billion SVU undetectable by the fake meter, thus setting the stage for three books to follow.

The long-term value of currency is an issue in works featuring journeys through time or the lapse of very long periods (for instance due to the deep sleep or cryopreservation of the protagonists). In some cases, compound interest may swell small amounts into a fortune, as happens in the Hitchhiker's Guide to the Galaxy by Douglas Adams, When the Sleeper Wakes by H. G. Wells, and the Futurama episode "A Fishful of Dollars". [1] [5] In other stories, inflation reduces the value of money, as in The Age of the Pussyfoot by Frederik Pohl. [1] Other plot factors can affect the worth of currency: for instance, in The Moon Metal by Garrett P. Serviss the world's currency standard must be switched from gold to a mysterious new chemical, "artemisium", [6] after the discovery of vast mineral deposits in the Antarctic devalues all known precious metals. [7]

While modern fiat currencies lack intrinsic worth, some fictional currencies are designed to be valuable in their own right. Intrinsically valuable currencies are used in the Frank Herbert's Dune universe; the Dragonlance world of Krynn where steel coins are the primary currency and are more valuable than gold by weight; [8] [9] and the Apprentice Adept series by Piers Anthony. The space opera Consider Phlebas by Iain M. Banks features coins convertible for chemical elements, land, or computers. [1] In utopian fiction, a money-free economy may still need a unit of exchange: in The Great Explosion by Eric Frank Russell, the Gands use favor-exchange based on "obs" (obligations). [10]

The use of "credits" is particularly common in futuristic settings, so much so that Sam Humphries has pointed it out as a cliché: "In any science-fiction movie, anywhere in the galaxy, currency is referred to as 'credits.'" [2] Credits are frequently envisioned as a form of electronic money. [1]

In science fiction set in the near future, modern currency names are often used. The selection of familiar currencies such as the dollar or yen, particularly in the far future, may be used to make suggestions about the way history unfolded; however, it would seem strange for aliens to use a recognizable currency. [3]

See also

Related Research Articles

A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies.

<span class="mw-page-title-main">Japanese yen</span> Official currency of Japan

The yen is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar (US$) and the euro. It is also widely used as a third reserve currency after the US dollar and the euro.

<span class="mw-page-title-main">Exchange rate</span> Rate at which one currency will be exchanged for another

In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro.

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The Hong Kong dollar is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar.

The New Taiwan dollar is the official currency of Taiwan. The New Taiwan dollar has been the currency of Taiwan since 1949, when it replaced the old Taiwan dollar, at a rate of 40,000 old dollars per one new dollar. The basic unit of the New Taiwan dollar is called a yuan (圓) and is subdivided into ten chiao (角), and into 100 fen (分) or cents, although in practice both chiao and fen are never actually used.

In economics, standard of deferred payment is a function of money. It is the function of being a widely accepted way to value a debt, thereby allowing goods and services to be acquired now and paid for in the future.

In economics, a medium of exchange is any item that is widely acceptable in exchange for goods and services. In modern economies, the most commonly used medium of exchange is currency. Most forms of money are categorised as mediums of exchange, including commodity money, representative money, cryptocurrency, and most commonly fiat money. Representative and fiat money most widely exist in digital form as well as physical tokens, for example coins and notes.

The mill or mil is a unit of currency, used in several countries as one-thousandth of the base unit. In the United States, it is a notional unit equivalent to a thousandth of a United States dollar. In the United Kingdom, it was proposed during the decades of discussion on decimalisation as a 1⁄1000 division of sterling's pound. While this system was never adopted in the United Kingdom, the currencies of some British or formerly British territories did adopt it, such as the Palestine pound and the Maltese lira.

<span class="mw-page-title-main">History of Chinese currency</span> History of money in China

The history of Chinese currency spans more than 3000 years. Currency of some type has been used in China since the Neolithic age which can be traced back to between 3000 and 4500 years ago. Cowry shells are believed to have been the earliest form of currency used in Central China, and were used during the Neolithic period.

The yuan is the base unit of a number of former and present-day currencies in Chinese.

The history of money is the development over time of systems for the exchange, storage, and measurement of wealth. Money is a means of fulfilling these functions indirectly and in general rather than directly, as with barter.

A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market. The currency that is used as the reference is called the counter currency, quote currency, or currency and the currency that is quoted in relation is called the base currency or transaction currency.

<i>Edisons Conquest of Mars</i> 1898 novel by Garrett P. Serviss

Edison's Conquest of Mars is an 1898 science fiction novel by American astronomer and writer Garrett P. Serviss. It was written as a sequel to Fighters from Mars, an unauthorized and heavily altered version of H. G. Wells's 1897 story The War of the Worlds. It has a place in the history of science fiction for its early employment of themes and motifs that later became staples of the genre.

The carry of an asset is the return obtained from holding it, or the cost of holding it. For instance, commodities are usually negative carry assets, as they incur storage costs or may suffer from depreciation. But in some circumstances, appropriately hedged commodities can be positive carry assets if the forward/futures market is willing to pay sufficient premium for future delivery. This can also refer to a trade with more than one leg, where you earn the spread between borrowing a low carry asset and lending a high carry one; such as gold during financial crisis, due to its safe haven quality.

Japanese currency has a history covering the period from the 8th century AD to the present. After the traditional usage of rice as a currency medium, Japan adopted currency systems and designs from China before developing a separate system of its own.

<span class="mw-page-title-main">Money</span> Object or record accepted as payment

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.

In foreign exchange markets, a percentage in point (pip) is a unit of change in an exchange rate of a currency pair.

<span class="mw-page-title-main">United States dollar</span> Official currency of the United States of America

The United States dollar is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color.

<span class="mw-page-title-main">Fiat money</span> Currency not backed by any commodity

Fiat money is a type of currency that is not backed by a commodity, such as gold or silver. It is typically designated by the issuing government to be legal tender, and is authorized by government regulation. Since the end of the Bretton Woods system in 1971, the major currencies in the world are fiat money.

References

  1. 1 2 3 4 5 Gliddon, Gerald (2005). The Greenwood encyclopedia of science fiction and fantasy, Volume 2. Greenwood. p. 532. ISBN   0-313-32950-8.
  2. 1 2 Ebert, Roger (1999). Ebert's bigger little movie glossary. Andrews McMeel. p. 172. ISBN   0-8362-8289-2.
  3. 1 2 Athans, Philip; Salvatore, R. A. (2010). The Guide to Writing Fantasy and Science Fiction. Adams Media. p. 113. ISBN   978-1-4405-0145-6.
  4. 1 2 Gliddon, Gerald (2005). The Greenwood encyclopedia of science fiction and fantasy, Volume 2. Greenwood. p. 531. ISBN   0-313-32950-8.
  5. ↑ Iverson, Dan (12 June 2009). "Top 25 Futurama Episodes". IGN . Retrieved 3 June 2011.
  6. ↑ Stableford, Brian (2004). Historical dictionary of science fiction literature. Scarecrow Press. p. 310. ISBN   0-8108-4938-0.
  7. ↑ Serviss, Garrett P. (1900). "The Moon Metal". Project Gutenberg . Retrieved August 20, 2010.
  8. ↑ Weiss, Margaret; Hickman, Tracy (2000). Dragons of Autumn Twilight . Wizards of the Coast. ISBN   0-7869-1574-9.
  9. ↑ Hickman, Tracy. Dragons of Despair . Vol. Module DL1. Renton, WA: Wizards of the Coast. p. 29.
  10. ↑ James, Edward (2003). "Utopias and anti-utopias". In James, Edward; Mendlesohn, Farah (eds.). The Cambridge Companion to Science Fiction . Cambridge University Press. p.  223. ISBN   0-521-01657-6.
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