What would happen if everyone in your country became rich? Would inflation equalize it or would everyone just diaspora to maintain their buying power
Couldn't the collective threat that everyone just diasporas mitigate inflation if businesses tried to pull any funny business?
Why does it work for Monaco?
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Rich is relative. If everyone is rich, nobody is.
What I mean is if everyone has an abundnace of money, how does that affect prices? Does a can or case of coca cola get more expensive just because it can?
I wonder why as a society we wouldn't want to punish that...they were doing just fine before they learned everyone had more money, why should they be allowed to extort like they've been doing where everyone emphatically doesn't have what they need or an abundnace of resources (shrinkflation well after supply chain issues resolved)
How would that apply to Monaco? They're all rich, aren't they? Relatively speaking, obviously there's a hierarchy but you have to be rich to even be able to entertain and carry out moving there
Nobody would need/want to work. Societal collapse ensues as supply chains break down. Prices skyrocket, wages skyrocket.
That would be my guess.
I'm curious about how Monaco solves all these issues haha. There must beba way to buy their way out of the problem at that point
I don't think that's a complete explanation of inflation. Prices sort of get bidden up. So say everyone wants a car now, but there aren't yet enough of them to go around. Someone will pay more because they value it more, and the seller will always sell to the higher paying customer.
I do think an abundance economy is possible, with everyone working just enough and a more reasonable allocation of the money. In that scenario we need more automation, because a lot of essential (tough, time consuming, underpaid) jobs are done now by people. The ownership of these robots would have to be spread out to everyone. I do think then everyone could be rich, in the sense of having a nice house, household help, food and clothes and fresh water, transportation. As long as society shares in these benefits it will work, yes.
What do you mean about Monaco? Are there no underpaid housekeepers and nannies and other workers there?