What if everyone in the world became rich and wealthy.

[TOZZIBLINKZ]

Being rich and wealthy is considered as the most important and most wanted thing in the world today , in fact research and studies has it that , in every 200 people in a particular group 60 % of it have in their mind the determination to become rich and wealthy someday . Although being rich is considered as important and most wanting today , but have you ever for once imagine how things will turn out if everyone in the world became rich and wealthy , will there be any positive or negative repercussions . first and foremost one thing that is more likely to happen is that no one will want to work for money since the money is there for them to spend , to consume , and to acquire any assets and properties of their choice .

Another thing that is more likely to happen , is that the economy or country you will be faced with deflation , in the sense that there is too many cash in circulation chasing too few goods . One characteristics and feature of money is scarcity , money need to be scarce so as to help and aid people to develop the ability of being hard-working , industrious , and creative , so as to able to make money .

 

[eldavis]

If everyone became rich and wealthy, there would be no one willing to render their services, everyone would be looking for who they would boss around. We have lots of workers today who are willing to learn and serve simply cause they are looking for more ways to grow themselves in terms of capital. This is why everyone can't be rich at the same time

 

[Shaf]

Theoretically, it may be possible but in reality, money will always circulate back to the hands of a select few. Even in times of severe inflation or recession, some people have it better than others because they have the money.

It also seems to be a nice idea, but knowing what happens when everyone has a lot of money like you mentioned, governments and financial institutions have made things to be such that the impact will be mitigated mad things will balance out soon, or the consequences on the country's economy would be bad. For example during the Covid 19 pandemic when inflation rose, people had more money given to them, but in return, the prices of goods and services equally skyrocketed.

Also having money on the hands of few people makes it more appealing for others to work harder to get part of it, which won't happen if everyone had equal opportunities.

 

[btaliat]

Money is meant to be scarce and there is no way everybody will be rich at the same pace. Brunei is the only place where there is no poor. But political economically, this is not possible as we have what we core core and periphery. The core are the rich while the periphery are the poor people.

So, in a country that we have the core like Qatar, Hong Kong and the likes, there will still be the poorest among them. There is no way there won't be someone that's least rich. This is the reason most people faulted Marxist theory of egalitarian system because it is not possible.

Money will lose its value the moment everybody is able to accumulate it at the same place. Then there isn't be regard for hardwork anymore since everybody has money. Life will not be sweeter anymore. Life is sweeter now just because we don't know what it has in stock for usm it is just like a squid game where we play games that we are not given instructions to.

And if everybody is given the same amount of money to start new lives with, it won't take more than 2 years before some people will still run out of the money that they are given. It is just a natural law and nothing more than that.

 

[Sotherefore]

Well this might really be a very difficult decision to us because if everyone automatically becomes rich I believe that it will automatically collapse the economy of the world because everyone won't work for my money. The act of people working in different area of their business and field is what leads to a stable economy around the world and if people decide not to work then obviously the economy of the countries will collapse and that can only be brought when everyone automatically becomes rich.

Although this is impossible because the financial sector of a country should be able to handle this by making sure that money is not too much and people do not abuse it by making it look like there is excess.

Even if a particular countries alone tries to print more money to make money available for everyone in the country , it will automatically will lead to the collapse of the economy of such country because the money won't really be valuable and it will lead to inflation in which there will be high price for a little things as biscuit.

The only thing I know is that people won't work and when people are not working the economy of the country will be greatly affected.

 

[Ithedicious]

The point is that no matter what will happen , everyone will never be rich to a point that everyone is able to take care and provide everything For themselves because everyone has to work in different areas and business offline to make money and some people with interest at the same time will also look for ways to make money online depending on their own areas of interest .

Even if everyone has to be very rich there are so many things that will happen , a lot of people will be too lazy to carry out farming activities because so many people do not like farming and it will lead to shortage of food within a very short period of time and people will be competing for the available food which won't even be sufficient.

The Central Bank of every countries will always know how to handle money and sometimes when the circulation of money is too much it is the duty of the Central Bank to take out some money from the market and also the other way around if the circulation supply is low .


The poor will always be there and this has happened right from the Jesus days

 

[Rubz]

The truth is that no matter how bad everyone wants to become rich, not everyone can be rich at the same time. Some people have to be poor, some have to be average and some have to be rich for the world to be balanced. If everyone were to be rich and wealthy in the world, there would be no anything. There would be no foods, as people wouldn't want to cultivate or sell food for money. There would be no market as a matter of fact because no one would want to stress themselves in the market selling goods and rendering services in other to get paid. There would be no employer and also no employee. I doubt anyone would be able to survive in a kind of world where everyone has money and no one wants to work for money.

 

[CALVINDOL]

Many individuals believe that the scarcity of money is nothing else but a disadvantage or a demerits to what money actually is. But if you were to think about this critically even get to see a more clear advantage while money need to be scare. According to research and studies the scarcity of money have totally made majority of people understand the benefit of what money is in the sense that it is a resource used to satisfy our minerals needs and wants but in order to successfully satisfy your needs and wants you need to work for money through the establishment of businesses or possibly through the establishing of online income streams.

The world with so much be a very inconducive place if human beings were all to be rich and wealthy. Practically no individual would want to work due to the fact that he or she has already achieved wealth and riches in abundance. There would be no establishment of businesses to satisfy our needs and wants as we see today.