Can I use 24 gauge speaker cable?

I’ve been trying to google this but I only get vague answers.
I want to know if I can use 24 gauge cable as speaker cable. And if not: why not?
Usual answers are “no, you should use xx gauge”, but I’m looking for why is that? Will the speakers of the amp go off in flames if the resistance is too high? I don’t even get that because the resistance isn’t even that much of a difference between speaker cable sizes, compared to the speakers resistance.

I’m talking about ca 16ft / 5m distance between amp and speaker. By the way should that measure 16 ft or double (32ft because one cable is plus and the other minus)?
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People buy a tuner like that for the craftsmanship, the cache, and appreciation in it's art. Not to mention it's great at pulling stations at great distances. 

Why not ask why anyone would buy an old, vintage watch at a 6 figure price when a Timex quartz can do the same thing. Or, pay 7 figures for a rare Ferrari when you can just get a Honda.

The common thread between all reveals that someone born of late with no appreciation for the past, and what it can teach us. That being not all things are appliances, nor should they be looked at it that way.

All the best,
Dynamic speakers, in general, have their lowest impedance at low frequencies and small gauge wire will result in reduced bass.
Not necessarily. Many speakers have impedance dip around 100Hz - bass reflex hump. Taming it might be a good thing. I took randomly one of Stereophile measurements - Wilson Sasha, that shows impedance dip to around 2 ohms at 100Hz (at the volume hump) and impedance increase to about 9 ohm at 45Hz where you want it louder (lowest bass string, open E=41Hz).  Small wire resistance in series helps to normalize it.
@gndrbob I know cables can make a difference, that’s why I started this investigation in the first place:-) I was a non believer first until I heard it for myself. What I’m still sceptical about is what causes the difference.

I’m pretty sure most of it has to do with the impedance i.e. the length of the cable, the metal that’s used and the thickness. Then there’s biwiring that I’m pretty interested in also, as you can play with highs and lows, getting some control over that.

sjeesjie, AFAIK biwiring can have effect on the sound by eliminating skin effect (I don’t believe it’s audible) and by reducing back EMF injection into other xover section by separating them by impedance of the driver+wire / impedance of the amp output divider. Xover suppresses it but is not perfect. It works with some speakers and has no effect with the others. I believe it is related to xover design.