Credits as currency

I think it can be lazy, but if you explain it to any degree it's totally fine.

If you think about it, a universal currency (providing there's a universal government, or several) makes sense. We're already reaching a point in the developed world where you could literally go your entire life without handling actual money if you wanted to. Digital trade is very convenient.

That said, I think a universal currency assumes some things that might not be true of some sci-fi settings, like rapid travel/trade (i.e, space travel is easy enough that you can trade perishables from one solar system with another). And even then, it might be a "second choice" currency in some backwaters, in the sense that people in the second and third world still barter in raw goods.

I think, all things said and done, that a universal, streamlined (digital) currency is more and more likely, the more advanced the society, and a space age society ought to be fairly advanced.

The name of the currency doesn't make much difference in most cases. I think that it would be nice if more authors used different names.

Thomas_Anderson said:

What are your feelings on the generic sci-fi currency known as the credit? Do you fell it's lazy or a valid term for currency in another world?

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It's just a word...maybe a *little* dated, but accurate. We're using "credits" right now, even though we call them dollars. They're not backed by gold or other goods/services; they're backed by the "full faith and CREDIT of the United States of America." Economists call it "fiat currency."

I think it's as much of a standard as FTL drives, etc. If what the currency is isn't a major point in your story, then it's a great standard to use because it calls no attention to itself, doesn't need explanation, you can just go on with the scene and it won't throw a reader out.

BTW, credit for "credits" in SF belongs to the late great EE "Doc" Smith, IIRC.

I like to make up something short and easy to pronounce/remember, and use that instead of "credits." Charging someone 50 dirks or 50 tins is probably just as obvious as 50 bucks or 50 credits, but it adds a little twist of originality.

It's very little effort with a payoff for originality, methinks.

Ardent Kat said:

I like to make up something short and easy to pronounce/remember, and use that instead of "credits." Charging someone 50 dirks or 50 tins is probably just as obvious as 50 bucks or 50 credits, but it adds a little twist of originality.

It's very little effort with a payoff for originality, methinks.

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Just curious: what would be the derivation of "dirks" and "tins"?

Most of our names for currency have something to do with metal, or weighing or the shape or processing of coin, or something printed on coin:

Dollar: from Joachimstaler, literally "gulden (gold) of Joachimstal," coin minted 1519 from silver from mine opened 1516 near Joachimstal, town in Erzgebirge Mountains in northwest Bohemia

Pound: from pondus "weight" originally "pound of silver."

Franc: from Francorum Rex "King of the Franks," inscribed on gold coins first made during the reign of Jean le Bon (1350-64).

Peso: "a weight," from L. pensum, "to hang, to cause to hang" (see pendant). Formerly either of silver (peso de plata) or gold (peso de oro).

Shekel: from shaqal "he weighed"

Rand: named for The Rand, gold-mining area in Transvaal, short for Witwatersrand.

Ruble: from Rus. rubl', perhaps from rubiti "to chop, cut," so called because the original metallic currency of Russia (14c.) consisted of silver bars, from which the necessary amount was cut off.

Zloty: monetary unit of Poland, from zloto "gold"

Yen: from Chinese yuan "round, round object, circle." (Yuan is also a Chinese unit of currency)

By contrast, credit is about what we think of the currency:

Credit: from creditum " a loan, thing entrusted to another," from credere "to trust, entrust, believe."

Smiling Ted said:

It's just a word...maybe a *little* dated, but accurate. We're using "credits" right now, even though we call them dollars. They're not backed by gold or other goods/services; they're backed by the "full faith and CREDIT of the United States of America." Economists call it "fiat currency."

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This. It's not a big deal, if that's what you want to call it, I don't think. Like Ruv said, though, I think it's can be a good idea to know the history or etymology behind whatever term you choose, just as part of your world-building.

The use of the term 'credit' for all currency was probably an innovative idea back when everyone was using good old greenbacks all the time for everything. Now... not so much. Not that it has to be. But it couldn't hurt to build something else into your world. You could have a character saying he's only got "Five secus (Standard Earth Currency Units) to his name, and he's hungry as hell." Or whatever. Currency is going to evolve again--beyond what we have now. Just make a projection of what that currency evolution may be.

Thomas_Anderson said:

Would it be too weird for spacemen to use something as seemingly mundane as "dollars"? Dollars seem to be the most popular unit around the world, (America, Canada, Australia, all I can think of off the top of my head)

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Kind of. An economy space couldn't exist without the entire weight of the planet behind the efforts that got it there. While individual currencies probably won't go away--I don't think any of them will become the galactic standard.

But then, I like the idea of the Jovian colonies printing their own money and becoming a part of the money market.

Though it may be lazy, I don't see where it matters what you call it. Myself, I wouldn't see where the average reader would even care, unless the story itself focused solely on the money.

I look at it similar to names. You could give every incidental character in your manuscript a name, but that doesn't mean it's necessary...or that you should.