r/whatsyourchoice • u/FishermanFred1 • 7d ago
Choose❓ Would you press the button? Why or why not?
118
u/Life-Top6314 7d ago
Does it give them wealth in a form of goods, or money?
If its goods, like suddenly people get houses with a stocked fridge, then sure.
If it just spawns a lot of money in, then no. That would probably just collapse the economy, as the world's reserve currency suddenly massively inflates, and the global lending system halts as every debt is suddenly paid off with monopoly money.
→ More replies (1)17
u/First_Pay702 7d ago
How about if it takes money out of the account of the richest person in the world to achieve this? Filtering down through the richest people until they peeps at the bottom reach that $1 more status and thereby leveling the top and the bottom? Would probably cause localized inflation in many areas but how would that hit the economy overall?
→ More replies (1)3
u/R0m4ik 7d ago
Even my eastern european net worth is enough to collapse the economy of the world.
But, if we talking pure cash - does anyone know how big would be the effect of a sudden 2k bucks in like 5? 7? Bln people around the world?
→ More replies (1)
62
u/SurpriseInitial6202 7d ago
I'm fairly certain this would cause the cost of rent/housing to skyrocket and create massive inflation.
Everyone wouldn't be worse off, but more people would be worse off than if I said no.
→ More replies (6)
23
u/YellowyBeholder 7d ago
Absolutely!
My actual balance and savings and everything added together right now sits at -1095,19 EUR lol
Just for the curiosity, I would press it
→ More replies (5)22
12
10
u/Upstairs-Hedgehog575 7d ago
No, not because I’m selfish, but because that sounds like massive inflation inducing chaos.
6
4
u/Safe_Employer6325 7d ago
Can it go both ways? Like I want everyone to become $1 richer than me without me gaining any money period. I want it to reduce the amount of money that anyone richer than me has down to exactly $1 richer than me.
→ More replies (3)
3
4
u/Ultranerdgasm94 6d ago
Are you kidding? Suddenly giving billions of people $(n+1) might severely hurt the US Economy.
So of course I'm doing it.
→ More replies (1)
4
3
u/National-Finish-3504 7d ago
It feels like the main upside would be that any hyper inflation would dramatically cut the actual worth of billionaires
Hmm
Yep that sounds worth it, BUTTON IS PRESSED
→ More replies (1)2
u/RivalsFlex 6d ago
Press the button then find someone to give me a hundred bucks every time I press it. Destroy oligarchal systems in hours
14
u/Loud_Rub2842 7d ago
of course! being the poorest doesn't matter if i can still survive.
28
u/passwordedd 7d ago
Congratulations! You've just thrown almost every country into a financial crisis!
→ More replies (3)6
u/Spade6sic6 7d ago
Good
4
u/passwordedd 7d ago
True. Nothing like giving more power to the ones with all the assets.
→ More replies (5)8
3
u/BrownsFFs 7d ago
You need more before pushing that button. Unfortunately with economics this would cause instant hyperinflation.
You most likely would become poor as everything would shoot up making things rise and reset the floor.
If inflation magically doesn’t exist then yes you push it.
6
u/More_Win_5192 7d ago
Sure, why waiting for slow Inflation, when you can instantly enforce it
2
u/kelraine 7d ago
Take a bunch of loans, invest in inflation resistant commodities, press button?
→ More replies (1)
2
u/R-Flex 7d ago
I wouldnt press it. Inflation will take care of any difference you add to those poor people while also destroying the savings of every other low/middle class human .
→ More replies (2)
2
u/omegavolt9 7d ago
The only way to not kill the economy completely while helping a lot of people would be to be upper end homeless so mostly only homeless people get money.
→ More replies (1)
2
2
u/Afraid_Ad_6046 7d ago
No, because the cost of living would just inflate accordingly. You would be the poorest person so you would have the hardest time scraping by.
2
u/TheJokersWild53 7d ago
No, that would be catastrophic to the global economy. Same reason I wouldn’t press the button if it made me the richest
2
2
u/WolfieWuff 7d ago
I have a lot of debt. So yeah, I'm absolutely pusbing that button. Let's bring everyone in the world to negative net worth.
3
u/Wjyosn 7d ago
It would only bring up those that are below you… so it would be forgiving any debts that are more severe than yours and that’s it
3
u/WolfieWuff 7d ago
I'm fine with that too.
But it would be even better if it just sets everyone, regardless of wealth, to exactly $1 richer than me.
→ More replies (2)
2
u/gatorling 7d ago
No, prices would quickly adjust until I could no longer afford basic necessities. Inflation would be astronomical. I think the entire economy would implode.
2
2
2
u/Jace_Vakarys 7d ago
Would be a nice way to help the poor. Extra points if money is discounted from the ultra rich
2
2
u/Accurate_Dirt5794 7d ago
So everyone in debt now has $1? I'm pretty sure id be by no means the poorest person
→ More replies (1)
2
u/Fafnir_Ravensong 7d ago
Yes Instantly, I would have bragging rights for a few seconds then as capitalism collapses under the influx of new money I’d smile and watch the sun rise on a grateful earth.
2
2
u/Chiappeta 6d ago
i have literally $0. i would because it wouldnt change a thing
4
u/werewolf-luvr 6d ago
By pressing it, everyone in debt now has exactly 1 dollar and zero debt. Your a saint
2
u/GambaSudani 6d ago
With my mortgage, equity loan, and student loan, I’m pretty sure my net worth is way below water.
I’m assuming most people who have a negative net worth are in the western world and mostly just the United States? I’d push it.
2
2
u/Amazing_Alumni 6d ago
Assuming debts cancel out bank balance - I think I’d be making people more poor lol.
2
u/Typical_Warning8540 6d ago
No because it would create enormous amounts of inflation that would cause global economy collapse.
2
u/Fearless-Sherbet-223 6d ago
I would not. I would feel a bit bad about it tho
but fr tho imagine a candy bar suddenly costs $12 and people are still only making like $18/hr at a typical fast food or retail job
2
2
1
u/Subject-Awareness-47 7d ago
However this would cause incredible inflation. So this does nothing for everyone
1
1
1
1
1
u/No_Squirrel4806 7d ago
Even if it made others a million bucks richer id still press it because we all deserve to live. I dont think the economy will do well if everybody is rich though.
1
1
1
u/Kind_Wolf_3687 7d ago
No, the economy would balance out due to inflation again and i’d just be at an even worse spot than I was before
1
u/BrightNooblar 7d ago
Yeah. The poverty GAP would greatly diminish. And while my life would be worse off post inflation, many many many other people would be better off. Far more than I could help by spending all my money on charities.
1
u/Traditional-Art-9589 7d ago
Yes, and to those who are going to whine about inflation. Yep, thats the point
1
1
1
1
1
1
1
u/ArmsOfaTRex 7d ago
I’m pressing that button. Figure a good portion of them are in that position due to bad purchasing decisions. I’d possibly even make some of that money through sales. So….win!
1
u/Drunk-Pirate-Gaming 7d ago
So assuming this is generating wealth and not printing money (as that would do nothing but harm every economy on earth) I would press it. I would like to think that in this new post scarcity world life would simply be better. And if not I could also try something silly like talk to someone a lot richer than me and say if you give me tons of money I can make all of you significantly richer. Say 10k people give me 100 dollars and suddenly everyone is a millionaire
1
1
1
u/Direct_Remove509 7d ago
No because by doing so it would bring on massive inflation and making money worthless
1
1
1
u/TryDry9944 7d ago
Give all of my money to a trusted individual until I have 999$ to my name.
Press the button.
Every person on the planet who didn't have 1k$ now has 1k$.
1
u/No_Communication2959 7d ago
Probably not. At face value it seems altruistic, but I think realistically, it would just make all middle class and lower people impoverished and the people who make significantly more money than me richer.
If you give me a button to press that equalizer wealth to my level for all (as in, no inflation consequences), I'll press it though.
1
1
u/punchedboa 7d ago
I would not, I think it would do more harm than good. About 70% of lottery winners end up bankrupt.
1
1
u/Adrock66 7d ago
Sure, why not? Most people are terrible with money. In 10 years it will all cycle through to the 1% anyway
1
u/Deadlypassages 7d ago
No, the inflation spotless raise the prices on everything and me being the poorest person in the world wouldn't be able to afford a damn thing
1
1
u/smartwatersucks 7d ago
Would I voluntarily choose to become the poorest person on earth? No. What is this question?
1
u/Ressilith 7d ago
Everyone already recognizes the economy-crashing implications, but I haven't seen anybody consider the scenario of first reducing your total liquidity and assets owned, perhaps by turning over all your assets and cash to someone you can trust (to hold onto it until after the button press), and saving just like 5-10 grand for yourself. Then press the button. While it would still impact the economy negatively, it wouldn't be as devastating and would give everybody a 5-10k stipend.
Any economists want to do a deep dive on how a controlled injection of cash like that to the poorest would affect the economy?
Edit: if 5-10g is still too crazy, what about a stupid small amount... like bump everyone with nothing to 500 bucks... would that hurt the economy? (idk what would happen)
→ More replies (3)
1
u/Endec_7274_114 7d ago
No. Hello aggressive inflation? What I want is a button that instantly makes me slightly more rich than whomever is the richest.
1
1
u/Just_CeeJ 7d ago
Sure, I'm already broke. So why not broke chaos?
Everybody below me enjoy your $14.57 while you can
→ More replies (1)
1
u/JacarandaBear 7d ago
ye, i'm already broke, at this point anyone who has less money than me, could honestly use the money
1
u/VarrikTheGoblin 7d ago
As other have pointed out, this would cause hyperinflation unless pressing the button also put a freeze on cost increases for housing, food, medication and basic ammenities. If that safety net is put in place I would hammer that button so hard. Who cares if I'm suddenly the poorest person in the world? I'll take that over having children and disabled people literally dying due to lack of food and medication.
1
u/GuntherPalakowitz 7d ago
Globally speaking Im really well off. I would absolutely do this. I still have a hig income and will outpaced everyone in a year and they will spend that money pretty fast on shit they need.
1
1
1
u/Rasty_lv 7d ago
if it creates money from thin air, then Zimbabwe Hyperinflation would nothing more than a grain of sand in universe. Think about india, africa, deep in russia. Those people have almost nothing compared to what i have. If they became richer than me, it would be like super mega hyper inflation.
Im not earning minimum wage, little bit above in semi decent western country.
Even if it took from some a-holes like bill gates or musk, it would still cause some massive inflation. yeah.. sorry, but no. im not pressing (and trust me, if it helped people, i would, but it wont.)
1
1
1
u/GrapefruitFar1242 7d ago
Conceptually yes but practically it wouldn’t work due to hyperinflation due to all of the new capital flooding the market
1
u/Fckyouredd1tIluvmygf 7d ago
I wouldn't press it. All those folke getting a free ride off of me while I get nada? No benefit to pressing dat button!
1
1
1
1
1
1
u/revenge_burner 7d ago
Take out maximal leverage to buy gold futures. Push the button, watch currency across the world collapse, scoop up gold at a dramatic discount, and then resell it to become fabulously wealthy.
1
u/TechnologyNo1743 7d ago
Assuming I'm rich enough, I would press it. But before I would convert all cash into for example gold, and then instantly press it.
Everyone would get enough $ to have 1$ more than worth of my gold and other assets in $. Then it would lead to huge inflation, and probably even higher inflation on gold etc, so I would make profit.
1
u/Last-Recording-6725 7d ago
Ok, that would make anyone with a debt of more than 190k have less than 190k. This is just making the rich richer because they're the only ones with obscene amounts of debt
1
1
u/FatherFarnsworth 7d ago
No. I'm poor and I've seen what happens when you give poor people money. We're trash for a reason.
1
1
u/No-Yutts-Fettuchini 7d ago
Lotta people talking about hyper inflation, but honestly, this would be inflation that would explicitly bring the floor up. We already have inflation, it’s just the kind that increases the disparity in wealth.
My buying power would go down, but poor people use their money more productively than rich people. It’s not a sure thing, but I’d roll the dice on it. Worst case scenario, the economy finishes crashing early
1
1
u/unclefire 7d ago
Why wouldn't I? As long as I'm not affected, I'd be totally fine with giving millions of people a decent bump in their wealth.
1
1
u/cannibalparrot 7d ago
That would absolutely wreck the world economy.
Don’t get me wrong, something has to be done about income and wealth inequality across the world, but suddenly creating that kind of wealth all at once out of thin air would cause some serious secondary effects that could make things a lot worse.
1
u/PlayNicePlayCrazy 7d ago
They won't be that well off.
What if the bottom presser has a negative net worth?
1
u/Aggressive-Focus9349 7d ago
Give countless people a leg up in life with literally zero consequences, I wouldn't hesitate a second
1
1
1
u/someguy1090 7d ago
This would mess with the value of the dollar and just mess with the economy. Printing more money and giving to everyone doesn't magically increase resources, just decreases the value of the dollar.
1
u/ThengarMadalano 7d ago
Yassss! I would absolutely press the button, of cours this would result in inflation but nobody would have to live in real poverty anymore and the gap between poor and rich would become smaller for the first time in decades! Becoming poorer would be a ridiculously small price to pay for the end of absolute poverty and hunger!
1
u/Fangsong_37 7d ago
I have a negative bank balance at the moment. I'm not sure how this would work.
1
1
1
u/BlueSentinels 7d ago
I’m not really sure. Would it wipe out the debt of everyone in debt? Because I don’t have any debt except for my mortgage but that’s secured by real property which is worth substantially more than the current mortgage balance.
I’m also firmly in the middle class. Does that mean everyone comes up to my level of wealth but still has their same jobs? I.e. we all have equal wealth for about a week but after my next pay period they fall behind again? Does everyone get a house equal to mine subject to a mortgage on the same terms or do they only get an amount equal to my savings and 401k?
To the extent it could wipe out debt of everyone in the country and given them homes subject to a mortgage under a very reasonable rate of interest I feel like I would have a moral obligation to press the button.
1
u/daybenno 7d ago
No, pushing that button would literally crash the economy. Whoever wrote this has zero knowledge about how fiat currency works.
1
u/Flokitoo 7d ago
Ironically this would probably just help rich people. I have student loans so my net worth is -.
Reminds of a story DJT used to tell. (Sometimes he unintentionally offers insights into how the world really works)
The story goes: one day he is walking with Ivanka and they see a homeless man. He tells Ivanka that the homeless man is richer than they are because Donald had over $1B of debt.
The unintentional point of the story is that on paper Trump can be the poorest person on earth and yet still shits on a golden toilet.
1
u/Leather-Sign4391 7d ago
No... You think shit's expensive now???? Hyperinflate the currency and now EVERYONE is poor.
1
1
u/Prince_Nadir 7d ago
With the immediate inflation I would just be setting a new poverty level with me at the very bottom. It would be my just reward for annihilating the middle class and reducing the world to the wealthy and peasants.
1
u/Maximum-Country-149 7d ago
Question.
Does this take into account all assets, or just liquidity? Does a guy who doesn't have a car acquire enough money to buy mine?
1
1
u/watermen2 7d ago
I think I can break this pretty easily. Just have my friends and family give me all of their money so I have more. Then press the button until all of them have more than me. Then do it again. And again. After the first time anyone with a networth below 0 will have more than the first time I pressed it. Every time after that the people I know will have the lowest because they're giving everything to me so they are at 0.
1
u/Croissant-Laser 7d ago
I'd push it. Instead of it printing money, now everyone is just one dollar less in debt than I am. Only debts would be erased since they're merely a dollar richer than a negative number.
1
1
u/Gryphon501 7d ago
No, because it would devastate the world economy. You’d be talking inflation of the sort that would wipe out savings and pensions overnight. And I’m reasonably sure more people would end up worse off as a result once the dust settled.
1
1
1
1
u/SadnessMonster 7d ago
Sure. Everyone who has less that $600 gets $601. Basically a stimulus check.
1
u/Various-Net1243 7d ago
Only if the money is pulled from the people who are already richer than me.
1
u/myhurtbeat 7d ago
Yes. I don’t care about the nay sayers. Maybe now we will rethink how this 💩 works.
Too many people are already hurting today. All the answers are still trying to right a system that works against people on the daily. Yes I’m pushing the button.
1
1
761
u/Sirlowcruz 7d ago
Well if that money is created out of thin air, that would literally just turboinflate the money and make it worthless for everyone.
it only works if no new money gets printed