I saw this circulating around and thought it was an interesting read.
Some of these are horrendous, some are funny, and a few made me think "Hmm, maybe not a bad idea"
this post was submitted on 12 Oct 2024
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Right? How different would things look today?
It would be common knowledge that deflation is good solely because it benefits those at $1mil
But people having just one million wouldn't wield incredible political power, so the government probably wouldn't listen to them as much as they do now.
Depends on how much they could change before it was passed an enacted. If they could restrict the national money supply to like $1, then $1mil cap would be no different than if we passed a $240,000,000,000,000,000,000 cap today.
I think you know "restricting national money supply to like 1$" isn't realistic in any sense.
Economics have to work in practice, it's not just pure math.
There would need to be an economy, so the minimum amount of money for that economy to work would obviously be more than 1$.
Even during the great depression the US GDP was hundreds of billions.
You could always just make something below cents and make 1 cent = 1 billion of that thing. So $1 would be equivalent to like 10 billion dollars. Granted, somehow you'd have to invalidate existing currency and push that type of policy in a political environment that is able to pass a constitutional amendment to prevent wealth accumulation. So, it couldn't possibly be that extreme.
Like you say, you'd need to completely rehaul the entire existing currency.
I think you know that's not reasonable.