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And who will survive if nobody produces anything for anybody to consume or horde? Imagine that the farmers of the world decided not to produce anything for us t
by kiba 14y ago
And who will survive if nobody produces anything for anybody to consume or horde? Imagine that the farmers of the world decided not to produce anything for us to eat and instead only horde stuff.
- josephlord 14y agoPeople would spend for food but save as much money as possible making the economy contract with demand in a depression. Hopefully the government would turn on the printing presses and step in as spender of last resort before the food ran out.
- jerguismi 14y agoPeople probably wouldn't do anything else than just buy that food, and wait for the world to end? LOL
- josephlord 14y agoOversimplified. This is an HN comment not a Economics paper. Discretionary spending reduced, borrowing falling leads to deflationary cycle with shrinking economy unless action is taken. I thought it would be obvious I didn't mean absolutely all spending will stop.