What would happen if the whole world had the same currency?
A lot of things would become easier - sending money overseas, travel, online shopping too.And a major part of the financial services industry would be put out of business.But.When a country has its own currency, it enables that country to control its own money supply.It can raise interest rates when inflation gets too high (and when prices rise too quickly) in order to make borrowing more expensive and make saving more appealing, and in doing so slow the economy down.It can also lower interest rates in order to make borrowing cheaper and encourage more investment, and discourage saving money, and in doing so speed the economy up. It can take steps to deflate its currency, making it cheaper, and therefore make its exports more appealing to other countries.With only one global currency, no one country could take these steps, and therefore all countries lose these vital tools in controlling their own economies.A case in point is the Greek Euro crisis a few years ago. Greece got into severe financial difficulties, but as a member of the Euro (having given up the Drachma many years ago) it could not deflate its own currency and was therefore hamstrung in its attempts to solve its own economic problems - the interest rates and money supply of the Euro being set by the European Central Bank in accordance with their view of what was best for the Eurozone overall (which tends to favour the strongest economies such as Germany), not one particular country.A single global currency would give us this problem, but on a completely global scale.Without this ability to control currencies, the only levers left for individual countries to control their economies would be things like taxes and capital controls (attempting to prevent the movement of money in and out).And it wouldn't be long before at least one country decided that they wanted to reestablish their own currency to give them back the controls they'd lost.
What would it be like if everyone were financially equal?
Don't say that it wouldn't be fair because there would be lazzy people that would't hold up there own; because, we have that now, and they're getting paid the big bucks for doing nothing. Most of them are government employees that don't spend more than 3 hours working, 3 times a week. Sounds like communism, no because we would all be financially equal not just the gerneral public. Scientist wouldn't want to do their job. That's fine, there are plenty of other things for them to do. Everyone will have their fair share of shuvelling sh*t, so that no one's life will stink all the time.
How different would be the world if all humans were financially equal?
Wow, if all humans were financially equal it would be like a utopia. Just imagine there would be no more starvation, and no more poverty. A world with no poverty would be like heaven on earth. Everyone can take care of themselves. I’m assuming that we are all in the middle class status. We would all have our own homes, our own car, have good food to eat, clean water to drink , healthcare, and have a great education. The world would completely change because we all would be at the same status. We would not have inequality. There would be a lot less corruption in our government because there isn’t that many very rich people to bribe them anymore. We would only have one class instead of three: the very rich, middle=class and poverty. We are all on equal footing, our children will play with many diverse kids because there is no class division. Society’s social stratus will profoundly change to include everyone. People who lived in poverty will stop being stressed out everyday from money problems. All of the countries in the world will be a lot less competitive. The economy would significantly improve because every one can be consumers. A lot more people will go shopping. There will be a lot more spending helping to decrease the debt and increase the economy in America
What would happen if we shared all the world's money equally? Would the economy collapse?
I have answered a similar question, where a person asked what would happen if everyone in India became very rich. Have a look: Ray Mathew's answer to India: What will happen if each and every person in India becomes rich?Tl;dr version: The economy wouldn't collapse, it would be unstable for a while and then go back to exactly the way it was. People who have money without producing anything of value (i.e. those who are not investing in something that can generate an income) will eventually lose all the money they got. Where would that money go? Back into the hands of people who are directly or indirectly adding value to the economy by investing in things that other people need and/or want.For example, you may finally have the money to buy a Lamborghini after this universal sharing of money happens, but the one who is actually on top here is the guy who has Lamborghinis to sell in a market full of people who want one.
If we took all the money in the world and shared it equally with everyone, how much would everyone have?
Total ‘Broad Money’ - being all bank notes, coins, bank accounts, time deposits, stocks, bonds, and so on, is estimated at about $80.9 trillion. Sounds like a lot, and that's because it is! Here’s all the money in the world, in one chartDivide it among the entirety of human population - and it's really not exciting.As of writing this answer, there are 7.448BB people alive right now.That’ll give everybody roughly USD $10,873.66.As for easily accessible money (cash, coins and bank accounts only), there is an estimated $28.6 trillion. When this is divided evenly, we each get $3,844.09. If all your bank accounts + cash is higher than this, then you would lose money if wealth was completely, and evenly, redistributed.
How would you create a totally free and equitable global financial system that benefited everyone equally?
There is probably not much of a chance to have much of anything involving humans be totally free and equitable. Dealing with different goals, wishes, desires, expectations, having emotions, aggression, greed, self-interest, in accomplishing things a lack of perfection in planning or operation, accidents, mistakes, errors, practical issues involving scarcity of resources, logistical issues, and so on.Given any number of variables then, the most we could probably hope for would be to get as close as possible to what we could reasonably expect. The best outcome out of the available choices. Some progress towards the optimal achievable.Perhaps then the best systems we could hope for at this time given the circumstances already exist. That we only need to refine them (and the underlying civilizations and societies they rest upon) with increased knowledge, sophistication, wisdom and insight.We can’t fast forward time to see how what we have might turn out, which leaves waiting, and while we’re waiting, testing out new ideas and seeing how they perform in reality, then adjusting things according to what works and what doesn't work.
What happens to society when morals/ethics are removed?
What I mean by morals and ethics are treating everyone with respect, getting to know a person before judging them, being kind and helpful and being an overall decent human being. I am not talking about religious values but overall basic social values that should be taught when a child by your parents. Society seems to me more concerned about superficiality, materialism and selfishness which is obviously the opposite of altruism, compassion and empathy. Why this sudden shift away from kindness and respect? Doesn't this distort and protract equality and diversity for everyone. I welcome all contributions. No judgmental answers please, impartial answers only
Do you think that the statement "all men are created equal" was intended to apply to all human being?
Honestly speaking, no. When Thomas Jefferson wrote that among the first lines in the Declaration of Independance, he was referring to free white males only. Thomas Jefferson was against homosexuality, he did not mean to include LGBT people when he said that. In fact Jefferson advocated dismemberment as a punishment for engaging in any other behavior besides vaginal intercourse between one man and one woman. He was from Virginia and so he did own slaves himself by inheritance. He was mostly against slavery though, but he still believed blacks should not be treated the same as whites. He only wrote, "ALL men are created equal" so the North states would sign it, and he was going to put something in about slaves being free, but he did not because then the South would not sign it. Sad to say, I wish it DID include ALL people including LGBT people, but the historical fact remains, it did not.
Can society ever be fair as long as people do not have equal talents and abilities?
People talk about equality but in reality there really is non, i can't run like Usain Bolt and he can't study like i can, where the disparagement happens is when one trade or skill is paid more than another, does a football player really deserve the money he does when a cop earns what he does? There should be equal pay for every skill in society, as long as we pay celebrities more than firemen we will always live in an unequal society.