Far Out Bear Posted October 19, 2007 Share Posted October 19, 2007 (edited) Incorrect title. Incorrect calculation. No need to panic. Edited October 19, 2007 by Far Out Bear Quote Link to comment Share on other sites More sharing options...
Bearback Posted October 19, 2007 Share Posted October 19, 2007 Dustbin men would give up their jobs, meaning our streets will be full of rubbish. Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted October 19, 2007 Share Posted October 19, 2007 Hyperinflation? Quote Link to comment Share on other sites More sharing options...
Lepista Posted October 19, 2007 Share Posted October 19, 2007 we'd all be rich! Rich, I tell ya! beyond our wildest dreams Quote Link to comment Share on other sites More sharing options...
Minos Posted October 19, 2007 Share Posted October 19, 2007 I'd spend my half mil before everyone else tried to. Quote Link to comment Share on other sites More sharing options...
DoctorJ Posted October 19, 2007 Share Posted October 19, 2007 Incorrect title. Incorrect calculation. No need to panic. oh come on - you've got me going now. It would be one hell of a party if it did happen Quote Link to comment Share on other sites More sharing options...
crash 2005 Posted October 19, 2007 Share Posted October 19, 2007 inflation would rise massively overnight, and the bank would effectively be bankrupt..... whats your point? Quote Link to comment Share on other sites More sharing options...
dirge Posted October 19, 2007 Share Posted October 19, 2007 money would be next to worthless, pensions would mean nothing, savings would be wiped out. the chav on the street would be on an equal footing with 99% of the population. we'd save loads on benefits as nobody would quality anymore. id put it all into another currency the moment it arrived in my bank account, im sure goldfinger will be along to say gold. Quote Link to comment Share on other sites More sharing options...
Orbital Posted October 19, 2007 Share Posted October 19, 2007 (edited) Dustbin men would give up their jobs, meaning our streets will be full of rubbish. nah, thats the beauty of capatalism and a concept that many opponents cant understand - so i forgive you for posting it. The system is such that everyone can be well off, economics isnt a zero-sum game. People arent rich by making others poor, people get rich despite that others are poor. There are some jobs in society that are a necessity. If we all became doctors, who would clean up our rubbish? Well the doctors would have to find a solution, this would be to offer one of their number a large enough sum of money to give up being a doctor and go be a cleaner. Supply and demand. Low skilled jobs tend to be low paid as there are lots of low skilled people to fill them. In a skilled society an unpleasent but necessary job will atract a high enough wage to persuade someone to eventually go do it. So as already said, the result of the thought experiment is inflation and not a pile of rubbish. Although arguably this thread will decend into a pile of rubbish so... Edited October 19, 2007 by Orbital Quote Link to comment Share on other sites More sharing options...
Guest wrongmove Posted October 19, 2007 Share Posted October 19, 2007 (edited) Incorrect title. Incorrect calculation. No need to panic. £500,000? £500? What's the difference? Edited October 19, 2007 by wrongmove Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted October 19, 2007 Share Posted October 19, 2007 If we all got 500K now- we would all get a tax bill for 600K next week... Quote Link to comment Share on other sites More sharing options...
dubsie Posted October 19, 2007 Share Posted October 19, 2007 If batman and spiderman had a fight who would win...you're point is Quote Link to comment Share on other sites More sharing options...
council dweller Posted October 19, 2007 Share Posted October 19, 2007 About 12 years ago the Japanese government gave all families about 50 quid's worth of shopping vouchers. They were trying to get the country out of a deflationary spiral....failed of course.Most people bought things that they would have bought anyway ,so no extra spending. The last thing we need is more inflation here. Of course our savings would virtually worthless,those who have currency would be king (or queen, if you're that way inclined), imagine the rush be to convert to ANY foreign currency! The idea of giving half a million pounds to people is no more insane than allowing 10 years of rampant hpi. Thanks O.P. Quote Link to comment Share on other sites More sharing options...
DabHand Posted October 19, 2007 Share Posted October 19, 2007 I'd spend my half mil before everyone else tried to. Yep, you would dispose of it as fast as you could. Quote Link to comment Share on other sites More sharing options...
dubsie Posted October 19, 2007 Share Posted October 19, 2007 mhhh probably spiderman. Quote Link to comment Share on other sites More sharing options...
DabHand Posted October 19, 2007 Share Posted October 19, 2007 nah, thats the beauty of capatalism and a concept that many opponents cant understand - so i forgive you for posting it. The system is such that everyone can be well off, economics isnt a zero-sum game. People arent rich by making others poor, people get rich despite that others are poor.There are some jobs in society that are a necessity. If we all became doctors, who would clean up our rubbish? Well the doctors would have to find a solution, this would be to offer one of their number a large enough sum of money to give up being a doctor and go be a cleaner. Supply and demand. Low skilled jobs tend to be low paid as there are lots of low skilled people to fill them. In a skilled society an unpleasent but necessary job will atract a high enough wage to persuade someone to eventually go do it. at first, I agreed partially and having thought about it in abstraction (e.g. in a closed system) l completely agree. Funnily enough if the job was universally regarded as more unpleasant than being a doctor, regardless of education levels required, it would theoretically have to pay more. Quote Link to comment Share on other sites More sharing options...
Saberu Posted October 19, 2007 Share Posted October 19, 2007 I think they should do it Ｔｈｅ country is going downhill anyway. It will be perfect as only the clever people will exchange their money to a foreign currency leaving then after about a week other countries will ban currency exchange with the UK or something leaving all the stupid people behind Then we can all bask in our glory of money, wow it's like HPI but with a twist! Quote Link to comment Share on other sites More sharing options...
Benedict Posted October 19, 2007 Share Posted October 19, 2007 Everyone with outstanding debts & mortgages would be laughing, and any cautious savers would be ******ed. Quote Link to comment Share on other sites More sharing options...
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