What would it be like if everyone got rich?
Since we will no longer see beggars, thieves, or criminals on the streets, it will be nice to see everyone become wealthy. Everyone will enjoy life to the fullest. Eat lavish meals, drive expensive automobiles, and live in lavish homes. However, wealth equality cannot be achieved. Because everyone would be rich, there would be no work because everyone would be rich.
This would lead to deficits like providing low-quality services and producing few or no goods for consumption because there would be a lot of demand but very little supply. Then, as prices of goods continue to rise, they will skyrocket, causing the economy to decline or remain stagnant.
Inflation would be rampant, poverty would take over the nation, and we would barely be able to eat if the central bank made the decision to print more money and distribute it to everyone in order to make them rich. Millionaires will starve to death and become the new poverty level because they cannot afford even the most basic necessities.
People will begin to consider novel ways to earn money as the competition intensifies. Even a billionaire will have to eat by hand. We must comprehend that the value of money is based on its scarcity. Money would lose its value if everyone got rich, and nobody would be rich. Everyone can live comfortably, but wealth equality is extremely unlikely.
Everyone getting “rich” is what socialism is and it’s an utter disaster. Level the field across the board and there’s no incentive to work or do anything and it’s an atrocity. Every single country that’s implemented socialism and communism is an utter failure and the people end up in far worse circumstances than they were in a situation where hard work could get you somewhere.
Exactly what my friend told me when I brought up this topic! Thanks so much @cmplxty for reading and your contribution, it means alot to my blogging!
Haha after reading this I just have to appreciate God for a job well done. I believe he has taken all of this into consideration before creating the universe and made everything equal to balance the equation. Thanks for sharing I enjoyed reading your blog post.
