What is the most valuable commodity today? The answer might surprise you. To put this inquiry in context, let’s begin with a little history. For decades, ever since the Bretton Wood Accords in 1944, the US dollar served as the global pricing mechanism for nations the world over based on one key product.
“When it comes to economic development, the most influential commodity on Earth is oil,” writes FXCM, a leading provider of online foreign exchange. “Oil is viewed as the lifeblood of economic growth, with its availability being a key driver of a nation’s prosperity.”
But things have changed in recent years. Oil has been dethroned. “For the first time ever, according to Bloomberg data, the five highest-value companies in the world are all in the tech industry,” writes Mack Gelber for Monster. The Economist agrees. “The World’s Most Valuable Resource is No Longer Oil, But Data,” goes a recent headline.