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The Right Not To Work

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#26 kadhim



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Posted 09 February 2012 - 07:57 PM

Very wise propositions you have put forth, it makes sense. A summary in one word: prioritizing.

I have a question, specifically for KingPomba since he has a very good grasp on economics. Why can't the government print a collosal amount of money to give, as an average salary, to those in the lower class of society? How is this not a possibility? Doesn't the government have absolute authority to print as much money as they want? After all, there's nothing controlling the government is there? They're at the peak of authority.

To greatly simplify things, in a very rough way, the cost of things is equal to the amount of money available to buy stuff divided by the amount of stuff there is to buy.
If you just print a bunch of money without in some way expanding the productivity of the economy to the same degree, the amount of stuff to buy stays the same.
As a result, prices go up. Inflation. For a number of reasons. For one, just from more money around, bidding up of prices as people compete for the same limited supplies of goods. The printing of money also tends to kill your currency's foreign exchange ratios, making imports more expensive. And then, finally, in line with inflation, money (interest rates on loans) gets more expensive because people who want to lend your country money through buying bonds expect a higher interest rate due to your irresponsible monetary policy. And bond rates drive financial institution interest rates. So everyone has more money, but everything gets correspondingly more expensive, So noone gets ahead.

#27 570



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Posted 09 February 2012 - 08:03 PM

Work should not be always associated as working in capitalist office.

Edited by аli, 09 February 2012 - 08:06 PM.

#28 Ya Aba 3abdillah

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Posted 09 February 2012 - 10:53 PM

Why can't the government print a collosal amount of money to give, as an average salary, to those in the lower class of society?

It doesn't work that way. QE = inflation. e.g. government prints and gives low-income earners $100k. Home builders then say "well, now they're going to buy homes, let's raise the price of houses". The price-hike in homes then counters the QE initiative. QE can only be used as a drastic measure in hope that it kick-starts a stagnant economy hoping it pushes up investment in new businesses/initiatives which then equals employment, which is what the US has been trying to do in the past few years.

#29 Marbles


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Posted 09 February 2012 - 11:12 PM

Sure, choose not to work as much as you like, of course provided that you can pay for the cost somehow.

Don't expect the government to foot the bill.

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