Trying to figure out the Federation Economy

[jefferiestubes8]

What current government economy does this closely represent?

The Federation credit is the monetary unit of the United Federation of Planets.

It would surely seem to be an electronic virtual currency.

What current government economy does this closely represent? Singapore?
Something like this?

Singapore actually decided to create its own electronic currency, to be called Singapore Electronic Legal Tender (Selt), and according to Kyte, this will go live by the end of 2008.

At the OECD Future of Money Forum, this was discussed and there seems to be a consensus that as long as there is demand, the BCCS will continue to issue cash. The futue may look like this.... merchants will have the right to accept or refuse Selt.

Singapore’s New Legal Tender Digital Currency
August 5, 2008

 

[T'Girl]

Electronic virtual currency, how is that different than paypal or simply a debit card?

 

[Stone_Cold_Sisko]

I interpret the "no money" thing to be "there's no money on EARTH anymore". That's just the way EARTH's government specifically (not the Feds as a whole) operates.

Various Federation worlds would have their own currency (or lack thereof) and certainly other factions (Ferengi, Romulan, whatever) would have their own currency.

Federation credits were invented so people in Starfleet could get stuff from other cultures and factions, and so other factions could get stuff from Starfleet and the Feds at a set exchange rate.

I actually feel this explanation fits what we see on screen. When Kirk is talking to that chick from ST4, or Picard talking to Lilly in FC, they are both EARTH residents so it makes sense Kirk/Picard would be talking about EARTH itself as having no money anymore.