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What would happen in economic collapse?
What would happen in economic collapse? Would I still be able to rent my house from the government? Would I still have to go to 'work' or would work become living off the land?
How would the barter system work...I see no reason why we would have to go to what we currently refer to as work, but at the same time, in such a situation I can not see governments and the rich, not making the most of the assets they have such as property. I can't imagine the government allowing me to stay living here for nothing if money no longer exists...how would things work?
3 Answers
- Spotty JLv 710 years agoFavorite Answer
Depends on what you mean by "collapse". To take the extreme case .... In a real no-kidding full-blown collapse, banks fail, no one has access to their money or financial wealth. Businesses are disrupted ... including electrical power plants, so there will be no electricity.
So no, you won't got to your job because there will be no job and no employer anymore. Few businesses can stay open with no money, no bank, and no electricity. Most workers would not go to work anyway realizing they won't get a paycheck.
Therefore, with no one working, business production ceases. Once the stores have been looted there are no products to buy, including food.
What happens from there depends on the country and community. Perhaps a government can hold together its military forces and maintain martial law and relief efforts, and try to get things going. Or not. Some local communities might pull together, and some would not. (Think New Orleans after Katrina. the people of New Orleans clearly would NOT pull together and survive.)
Aside from that, the government won't give you a place to live, because ther government won't be functional. The rich won't exist any more when financial systems become non-functional. Their wealth is in paper and legal ownership of things they won't be able to control anymore. Or, the "rich" becomes the farmer or rancher with crops and livestock.
If an economy truly collapses and can't be re-booted quickly, you'd certainly have many many people die, because the resulting no-technology barter-based tribalism and feudalism could not feed a fraction of the current population.
- Anonymous10 years ago
No one can say what would happen to you for sure.If the economy would collapse,the government would collapse too. You might use the case of Afghanistan or Iraq as an example.