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Should poor countries print more money and get rich?

Asked by: shiva_asal
  • We Should All Print Tons of Money And Just Pretend It's Worth Something

    In a certain utopian world I swear this would work, but only at the right prices on products and the right amount of money distributed to the citizens. Like what if we just gave one million dollars to everyone, kept all prices the same, then just pretended the money was worth it's traditional amount? The economy would be going so fuggin fast you wouldn't even see it, everyone would be buying tons of products, that money would go towards making the same amount of products as before only to see it be bought all over again. Everyone is rich and the economy goes super fast because we just pretend there is no inflation! If we could get every other country in on this; we just solved world poverty.

    Thank you, I rest my case.

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  • Duh because Inflation Isn't Real

    It's the simple fix. I don't care if that "isn't how it works." Who made up the rules on what works and doesn't work anyway? We created the idea of currency so why not adjust the system? Inflation to me just sounds like people being greedy. It doesn't have to be that way.

  • Yeah sure, why not?

    If more money is introduced then problems will just be gone. I wish. Just becaus money is introduced it doesnt mean that it retains its value. It would mean that a loaf of bread could cost $100000 if they wanted. This topic is just another troll my fellow serious debating people. Sorry if the person pulled you in.

  • One Word... "Inflation"

    If a poor country where to print more money that would in no way make them any wealthier than they currently are. As a matter of fact the result on printing more currency would actually decrease the monitory value of the currency itself, this is what's know as "Inflation". Currency is only as valuable as the trust placed on the belief in the issuing government that it will not fail. The United Stated currency used to be on the "Gold Standard". This means that all the money in circulation was backed by its monitory value in gold. This was very comforting because it meant that a dollar was not just a piece of paper, it was exchangeable for its equivalent value in gold. We are no longer on that standard so the value of our dollar is decreasing as they print more monies. Now the only thing backing our currency is the belief that the people will give goods for US money based on there faith in the stability of the US economy and government. I hope this has cleared up the question as to why printing more currency does not make a poor country any richer.

  • Inflation will soar like anything & country becomes poorer.

    This will lead to massive rise in inflation & the value of money will be declined. It is easy to say that we can print more money & will get rich but in reality country will become more poor. The result we all knew what happened to Zimbabwe. They have to pay huge amount of money to purchase one bread or one egg. For e.g. to buy one egg they had to spend one million Zimbabwean dollar. It is always better to take loan from world bank instead of printing currency which will lead to massive economy crash.

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  • Definitely not, capitalist based societies cannot do this without the risk of inflation and eventually hyper inflation

    Because lots of money doesnt mean lots of wealth. The economy relies on people's desires, which are infinite, everyone wants something. But Desires limited by finite resources, such as labor for example. If everyone was a millionare, then millionare's would pay hundreds of thousands for people to mow their lawns, this means people can become millionaires from cutting grass, and now the prices of milk and suger for example sky rocket, costing thousands of dollars instead of its normal price. Everything will eventually equal out and then we end up with countries such as zimbabwe where a million zim dollars is worth jack S***. Wealth is what needs to be increased, not money. By increasing the amount of finite resources a country has, such as say labor, then the economy can flourish, as did china as wealth has been created.

  • Definitely not, capitalist based societies cannot do this without the risk of inflation and eventually hyper inflation

    Because lots of money doesnt mean lots of wealth. The economy relies on people's desires, which are infinite, everyone wants something. But Desires limited by finite resources, such as labor for example. If everyone was a millionare, then millionare's would pay hundreds of thousands for people to mow their lawns, this means people can become millionaires from cutting grass, and now the prices of milk and suger for example sky rocket, costing thousands of dollars instead of its normal price. Everything will eventually equal out and then we end up with countries such as zimbabwe where a million zim dollars is worth jack S***. Wealth is what needs to be increased, not money. By increasing the amount of finite resources a country has, such as say labor, then the economy can flourish, as did china as wealth has been created.

  • It will increase the inflation in the country .

    As the resources are limited or may be scarce in some countries this may lead to inflation in price of the goods as people have more money to pay for the goods.Best way would be to improve productivity in the country instead of creating more paper money or fiat money.

  • That's not how it works.

    If we were able to solve all the world's problems by printing more money, there would be no poverty anywhere. All that happens when you print more money is that you dilute the value of the existing cash supply, thus causing inflation. This means a loaf of bread, for example, suddenly costs $20 and your country is still as poor as it was before.

  • Money is not goods

    Money is used to exchange goods. Money is not goods. If one kg of rice is rated 2dollars having double the money in the country means now one kg of rice is to be priced 4dollars!. So printing more money does not make anybody rich. If more money is there in the country than the value of goods it is called INFLATION

  • There is such a thing as inflation

    Congratulations, you just destroyed your purchasing power. Now that you have done that, you now get to put up with hard-earned savings being destroyed in a matter of seconds as now they have been seriously devalued. Take the case of, say, a gallon of milk, in the 1950s. That gallon cost 50 cents. Now that gallon costs about $3.50. The reason: there is more American currency out there, and people are paid more, so companies charge more, reducing the purchasing power of that money.

  • This would lead to Hyperinflation.

    We already saw hyperinflation happen in Germany after World War 1. The massive printing of money did not work then and it will not work now. If anything, nations should used a commodity currency to strenghten their dollar. Obviously the two best options are gold and silver, but to just print massive amounts of money would be a huge mistake.


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