It is an exaggeration to say that modeling a currency unit requires
elaborate modeling of everything related. There are multiple currency
units, and between them there are exchange rates (which change daily), and
any number x times the base unit is indeed x multiples of the base unit, and
the way one 'measures' or 'standardizes' the base unit is as its value on
any given day versus some one or more other freely exchangeable currency
units, and one may also use the price of gold (on an open market without
restrictions) as a measure of value. The 'measurement' method is a currency
market, and for the same reason were are not going to represent measuring
devices, we do not need to represent the details of a 'currency market',
though a bare placeholder type may be useful. The only other ancillary
concept we may want is an 'issuing authority', which will be a 'national
government', which can also be a undefined placeholder. If we are going to
represent the 'authority' that defines the base unit of physical measures,
then defining the authority that issues a currency will be close enough to
represent no problems. (01)
If the majority prefer to exclude currencies from the UoM ontology, I have
no objections, but I don't foresee major problems including currency. (02)
Pat (03)
Patrick Cassidy
MICRA, Inc.
908-561-3416
cell: 908-565-4053
cassidy@xxxxxxxxx (04)
> -----Original Message-----
> From: uom-ontology-std-bounces@xxxxxxxxxxxxxxxx [mailto:uom-ontology-
> std-bounces@xxxxxxxxxxxxxxxx] On Behalf Of Martin S. Weber
> Sent: Monday, August 10, 2009 11:47 AM
> To: uom-ontology-std
> Subject: Re: [uom-ontology-std] retitled - hardness etc.
>
> Pat Hayes wrote:
> > Well, let us just push on that for a moment. Economists and the
> entire
> > financial industry do seem to assume that there is something
> > underlying all fungible forms of exchange (that is, dollars and euros
> > but not 6 inch wire nails), something that they all measure and
> allows
> > them to be compared; and the notions of unit and scale seem to apply
> > here quite well also.
> For the record, in UnitsML we've decided to not mess with Currency. If
> you
> want to try, sure, but be sure to model supply, demand, chaos, panic,
> war etc.
> in the ontology as all of this will have an influence in your "what is
> valid",
> "what belongs to which quantity", "are these interchangable" etc. etc.
> questions. The majority of units and quantities nowadays have the
> beautiful
> property to be static, while the majority of currencies nowadays have
> the
> beautiful property of being wildly dynamic. If you seriously want to go
> ahead
> and try and include currencies, my personal ETA-guess for an uom-
> ontology just
> went over to 2011+. Enjoy.
>
> -Martin
>
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