The Instigator
Instigator0846
Pro (for)
Losing
0 Points
The Contender
Defro
Con (against)
Winning
14 Points

Should the penny be abolished?

Do you like this debate?NoYes+1
Add this debate to Google Add this debate to Delicious Add this debate to FaceBook Add this debate to Digg  
Post Voting Period
The voting period for this debate has ended.
after 3 votes the winner is...
Defro
Voting Style: Open Point System: 7 Point
Started: 4/2/2014 Category: Economics
Updated: 3 years ago Status: Post Voting Period
Viewed: 1,543 times Debate No: 51510
Debate Rounds (5)
Comments (4)
Votes (3)

 

Instigator0846

Pro

Lets have a fair debate. Good luck.
Defro

Con

I accept. I will be arguing against your resolution that the penny be abolished. First, I would like to define the term "abolish".

Abolish (v): to officially end or stop
http://www.merriam-webster.com...



Please state your case.
Debate Round No. 1
Instigator0846

Pro

We should get rid of the penny. Can you give the reasons first?
Defro

Con

Since you are the instigator, you are obligated to have a resolution, whereas I am not. All I am obligated to do is to rebut your argument. Even after I requested in Round 1 that you state your case, you still insisted that I present mine. But I have none. It would be like you asking me to play Table Tennis with you at your house, and when I arrive at your house, you say "Can we use your Table Tennis table?" When in fact I don't have one. Nevertheless, I shall comply and form an argument.

*Note that so far your claim "We should get rid of the penny." is not supported by any points or arguments.


=======================================================================================


Contentions:

1. Negative Effects on Business and Economy

Many products and services are priced at a value ending in 9. This is called Psychological Pricing. [1][2] It is an effective business strategy that every successful entrepreneur has used. If the penny were to be abolished, this would be inconvinient due to the fact that it would not be possible to recieve change in certain cases. This would lead to companies and businesses changing the prices of their goods and services because their effective business strategy is no longer viable. Psychological Pricing is a cause of price points, which means it keeps demand of a certain product relatively high. [3]. Therefore demand would not be as high without Psychological Pricing. Because of this, the revenue and profit rates are likely to decrease, meaning the companies are not as successful. If businesses are not as successful, these potential problems would possibly arise:

-Unemployment: Either people lose jobs because their bosses can't afford them due to unsuccessful business, or people can't find jobs to begin with because business can't afford to hire due to unsuccessful business.
-Inflation or Deflation (either one)














2. Loss of Wealth

There are many pennies in the world. And there are many people in the world who owns pennies. According to the US Mint, there are currently 200,035,318,672 pennies in circulation. [4] Therefore, by abolishing pennies, you would make the United States $2,000,353,186.72 poorer (over 2 billion dollars).



Sources:

[1] http://www.straightdope.com...
[2] http://en.wikipedia.org...
[3] http://en.wikipedia.org...
[4] http://www.kokogiak.com...








Debate Round No. 2
Instigator0846

Pro

Instigator0846 forfeited this round.
Defro

Con

Arguments extended.
Debate Round No. 3
Instigator0846

Pro

Instigator0846 forfeited this round.
Defro

Con

I leave it to the voters
Debate Round No. 4
Instigator0846

Pro

Instigator0846 forfeited this round.
Defro

Con

Pennies should not be abolished.
Debate Round No. 5
4 comments have been posted on this debate. Showing 1 through 4 records.
Posted by Defro 3 years ago
Defro
@kendralane

So you're saying that because they don't work on machines, they should be completely abolished?
Posted by kendralane 3 years ago
kendralane
Pennies don't work in machines, they cost more to make than they actually cost, and they waste people's time.
Posted by ScrinTech 3 years ago
ScrinTech
#ItAllCounts
Posted by lightingbolt50 3 years ago
lightingbolt50
Screw the penny.
3 votes have been placed for this debate. Showing 1 through 3 records.
Vote Placed by johnlubba 3 years ago
johnlubba
Instigator0846DefroTied
Agreed with before the debate:-Vote Checkmark-0 points
Agreed with after the debate:-Vote Checkmark-0 points
Who had better conduct:-Vote Checkmark-1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:-Vote Checkmark-3 points
Used the most reliable sources:-Vote Checkmark-2 points
Total points awarded:06 
Reasons for voting decision: Strong argument from Con plus Pro Forfeits.
Vote Placed by Anon_Y_Mous 3 years ago
Anon_Y_Mous
Instigator0846DefroTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:-Vote Checkmark-1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:-Vote Checkmark-3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:04 
Reasons for voting decision: Forfeiture.
Vote Placed by The_Scapegoat_bleats 3 years ago
The_Scapegoat_bleats
Instigator0846DefroTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:-Vote Checkmark-1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:-Vote Checkmark-3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:04 
Reasons for voting decision: Pro forfeited and failed to deliver opening arguments, so points go to Con.