Quick Q&A: How much money is estimated to exist on Earth?
Time to empty those piggy banks and rummage down the back of the sofa, the amount of money out there depends on what we include when defining ‘money’.
Asked by: Adam King, Huddersfield
As with so much in finance, the answer isn’t straightforward. Economists distinguish between various types of money, ranging from individual savings deposits to the reserves held by central banks.
But taking ‘money’ to be coins and notes, statistics collated by the Swiss-based Bank for International Settlements suggests there’s over $6,000bn worth of the stuff out there. This figure does not, however, include the vast amount believed to be lost down the back of the world’s sofas.
Robert is a science writer and visiting professor of science at Aston University.