Alchemists misunderstood both chemistry and economics

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We know now that you can't turn "base metals" into gold through chemical processes, but if you could, gold would no longer be scarce and therefore no more valuable than the base metals.

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It only becomes unscarce if you tell everyone else how to do it. If you can make gold, and no one else can, then its free money for you.

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The trick is only you know how, so you get rich.

Cruxifux

I could not be trusted with this power. I would rather tank the gold standard than be rich.

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It has already been said but I think the author misunderstood alchemists, the idea was only they would have the knowledge. The argument put forward would apply to the entire monetary system, money must be worthless if everyone can make it.

Beacon

Why? The world will just move to a different standard, and although it would hurt rich people it also likely would cause a ton of problems for regular folk too

edric

They’ll probably just put an arbitrary standard to differentiate “naturally occurring” gold from the one processed one, just like how artificial diamonds are the exact same thing as the natural one but it’s the blood, sweat, and tears that give it value.

metaStatic

Alchemy was an explicitly magical tradition.

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Price is not value. Gold is more valuable (useful) than lead, whatever the price. Clean air was cheap and valuable, now it must be created in a lab.

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Gold is a very useful metal, and I would like it to be as cheap as aluminum. There are so many things you could do with a metal with great conductivity and chemical resistance. Currently, high price is preventing us from building all sorts of things out of it.

Björn Tantau

I love that we now actually can turn base metals into gold. It's just incredibly energy intensive so nobody bothers.

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Lol, I don't think the alchemists were planning on sharing the technique if they found it.

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Mainly the blood though.

JackGreenEarth

"I remember the first time we met you, you told Lyra that if people think you’re trying to make gold out of lead, they think you’re wasting time and they don’t bother to find out what you’re really doing.”

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well the understanding of the world was, that everything has a soul like attribute. and they are in a hirachy from close to god to far from god. so gold was inherantly a very close to god metal and therefore inherantly more worth than lead which was somewhat far from good.

So based on that world view of fixed values based on the christian god, they had no reason to belive the economy might suffer.

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The only way I can see gold becoming cheap being a problem for me is due to it being a problem for rich people and them making it my problem.

𝕽𝖚𝖆𝖎𝖉𝖍𝖗𝖎𝖌𝖍

"... and this particular diamond, although smaller, cost extra blood, and three young children died getting it. That's why, despite being twice the cost, it's the perfect stone for your wedding ring!"

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I always thought about it more in a metaphorical way.

"Alchemists are trying to produce gold (valuable materials) out of less valuable materials."

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Will it though? There are far to many egregiously wealthy people on our current monetary standard, we dont seem to be moving on. I will happily pay someone in leaves though.

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Yeah nowadays that is a common interpretation, and you can try to find support for it in the mysticism with which all of the protosciences were imbued. But I really do think they were aiming for gold. Or were claiming as much, to get sponsorships and such. Kinda like how researchers nowadays will exaggerate their abilities and research goals to get grants.