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If everyone on earth is given a million dollars each, will that end poverty?
9 Answers
- Anonymous1 year agoFavorite Answer
I GUESS IT COULD
- BloatedtoadLv 61 year ago
That wouldn't change the amount of goods and services in the world. But there would be a WHOLE LOT MORE DOLLARS chasing those goods and services.
- Anonymous1 year ago
Nope. Everything will increase in value.
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- ?Lv 71 year ago
Maybe temporarily, but it's not that simple.
What is in place to prevent the costs of goods and services from skyrocketing should every have suddenly have a surplus in funds?
What about the multitudes of services provided daily? Will people still see the need to work and provide necessary services? From Medical to Agriculture to Engineering, Trades and everywhere inbetween.
What about taxes?
What about printing costs? Money isn't free to print..
What does it mean for the stock market?
How will it effect exchange rates etc?
Is there a long-term plan in place?
There's a lot to be considered here.
- Anonymous1 year ago
no the greedy will raise all their prices
- KathyLv 71 year ago
No, because the poor people will spend it too fast, and be right back at being poor. A million dollars does not buy what it use to buy.