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I believe in zero-sum economics, I.E, I don't believe that there can be a "global market crash", all crashes have an equal and opposite effect somewhere else. I
by phendrenad2 1y ago
I believe in zero-sum economics, I.E, I don't believe that there can be a "global market crash", all crashes have an equal and opposite effect somewhere else. I'm expecting to hear that jobs are booming in some other countries. In fact, there is data on this.
Those of you who experienced Silicon Valley at its height, I hope that this means we get to experience the next iteration of that, even if it's somewhere random on the planet.
- IAmGraydon 1y ago>I believe in zero-sum economics, I.E, I don't believe that there can be a "global market crash", all crashes have an equal and opposite effect somewhere else. I'm expecting to hear that jobs are booming in some other countries. In fact, there is data on this. Yeah this isn't right. Changing policy can reduce the value of assets across the board, everywhere. It's very possible. The money just disappears because those assets are no longer worth the same in the new environment. Sometimes everyone loses.
- phendrenad2 1y ago> Changing policy can reduce the value of assets across the board, everywhere If the value of everything changes uniformly, what difference does it make? If I can sell an ounce of gold and buy 1,000 gallons of milk, what does it matter if I briefly have $1,000 or $10,000 in my bank account while accomplishing this trade?
- AnimalMuppet 1y agoI would suggest that 1929 is a pretty decent example of a global crash. Economics can be positive sum, zero sum, or negative sum, depending on the situation. But in this instance, if the US is removing itself from the global scene, there may in fact be booms in other places.
- phendrenad2 1y ago> I would suggest that 1929 is a pretty decent example of a global crash How so? Did no one gain from it?