Tomorrow, a benevolent multi-quadrillionaire gives every person on the planet 1 million dollars. Because of this act, one year later the world is...
Crime rate might go down. Sure help the housing market. And I'd retire.
It would destabilize the economy
I don't think so- prices always go up, and even if they creep down a little, they never return to base levels.
Everything would be more expensive 1 year later.
In the Weimar Republik inflation was so high that it was cheaper to wallpaper with money than to actually buy wallpaper. In order to buy a loaf of bread people had to take wheelbarrows full of money to the store.
If every single person received the very same amount as every other person, wouldn't we be exactly the same off as we are right now? After the initial chaos settled down. Super inflation would quickly kick in to calm down that chaos.
And, after a worldwide shopping spree, the wealth would be consolidated into the hands of about 1% of the population who kept their heads on straight.
But their wouldn't be a shopping spree. Businesses would just raise their prices accordingly. Like $100,000 gallon of milk.
Not right away- even if it was only a 12 hour delay before prices increased, people would be spending immediately. And once prices started increasing, people would be more likely to buy for fear of waiting too long before prices went up even more.
the world is . . . suddenly hit with an inflation tsunami! Richer on paper, poorer in reality.
Anything that would make drastic and quick changes to the economic system can't be a good thing.
Worse of course. Inflation would make the money a fraction if its worth immediately.
We'd all be back where we started. Plus, many people would turn into assholes.
Inflation how? The money is already out there...no new money has been printed therefore the value should remain constant right?