Post
Topic
Board Economics
Re: Any help about how the world is run economically?
by
Hydrogen
on 27/07/2018, 13:58:37 UTC
Most human economic activities are influenced by the need for money. But why can anyone not become rich?. What are the reasons why others work hard yet they are still poor? Why can't we print enough money for everyone? Questions like this do appear but there are reasons the answers are opposite.

I think the easy response to this revolves around productivity, time and resources.

The practice of rationing food or water could represent a decent analogy. A ship at sea with 50 barrels of water could choose to distribute those resources equally at a limited quantity if water became scarce. Society and civilization could operate under similar principles where wealth and value are divided but there is never sufficient wealth or value produced by society for everyone to enjoy a wealthy lifestyle.

In the future that could change. Productivity could increase. Resources such as energy (electricity) could become plentiful and cheap relative to income. The price of food and rent could decline. A decrease in the cost of liabilities could allow people more free time, greater freedom in being able to take more trips and afford more expenses.

I'm not saying its likely any of these things will ever occur.

Advancing technology is making some innovations more affordable to the general public. Over the long term that could translate to a hike in standard of living. Perhaps enough for everyone to live as if they were wealthy, someday.