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What will happen if everyone becomes a millionaire?

Discussion in 'General Chat' started by dess71, Jan 7, 2020.

  1. #1
    Without considering inflation what will happen if everyone will have all the money to buy anything? The first thing that comes to mind is "who will work for the other?" Workers will diminish if not disappear from the face of the earth. What else can you think of?
    dess71, Jan 7, 2020 IP
    JEET likes this.
  2. sarahk

    sarahk iTamer Staff

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    No different from a recent discussion about universal basic income

    There will always be people who never have "enough" - assuming there are still multi-millionaires, billionaires etc
    There will always be people who want to solve problems that money alone can't solve - scientists, doctors, politicians
    There will always be people whose work isn't about money - writers, artists, sportspeople
    There will always be people who want to take that million dollars away from people they see as less worthy - women, lgbtq, castes, immigrants, disabled
    sarahk, Jan 7, 2020 IP
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  3. JEET

    JEET Notable Member

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    Combine those 2 conclusions above,
    1. Who would work for the other,
    2. There will always be people for whom nothing is enough.

    "2" will pay huge money to "1", and now "1" is working for "2",
    but instead of working for a couple of thousand dollars, they are now working for millions.

    Now because "2" is paying in millions, so "2" cannot sell the finished product for a couple of dollars, say a packet of bread.
    So this packet of bread will now go for many hundreds of dollars.

    Millions of those millionaires is now getting spent on "basic daily" stuff...

    So once again, back to square one, only a few are immensely rich,
    rest are all average people, but holding millions in their bank accounts...

    Inflation is not something that a particular organization is creating.
    "We" are creating it and it cannot be stopped I guess.
    We can merely control inflation for a very short while.
    JEET, Jan 7, 2020 IP
  4. JoeSpirit

    JoeSpirit Active Member

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    I remember a discussion some years ago about the dispersion of wealth.

    The opinion was that you could take all the money, evenly divide it among all the people, and within a specified period of time, the majority of the money would be right back in the hands of those who have it now.

    The wealthy pretty much know how to respect and treat money. As a result, they naturally attract money.
    JoeSpirit, Jan 8, 2020 IP
    superprg and JEET like this.