Alchemy

If one could turn lead into gold all you would do is substantially reduce the price of gold to a value around the price of lead, plus processing costs and a small margin.

On the LME lead is around $2k per tonne whereas gold is ca. $1100 per troy ounce. That is, lead is around 18,000 x cheaper than gold.

If the alchemists had succeeded we would be, inter alia, using gold on our roofs as flash flashing.

Those alchemist could do simple maths but they weren’t very good scientists. And they had not a clue about basic economics.

Lola (11) when I told her this idea instantly said “yeah but you wouldn’t tell anyone and you wouldn’t over do it”, referring to secretly not making too much gold and thereby not affecting the market price.

She intuitively understands trade secrecy, supply and demand, and price elasticity

Her school says she is an OK but not outstanding student. Once again I question the fundamental philosophies of our schooling system.