I assumed this. Day to day would collapse. Like if everyone was rich there wouldn't be anyone to deliver their mail or clean the streets. But is it possible that governments could do this if somehow all 195 of them agreed? They just never chose this because inflation would destroy everything? Like everything would become the same. Coffee would become $50 a cup or if you wanted to import resources from another country it would just be 10x more expensive and nothing would ever change? Has any country every secretly tried this? Like who is the police in all this?
ss89898 OP t1_j2e0wrj wrote
Reply to comment by Ansuz07 in ELI5: If money today is all digital, why can't all the countries governments just go on the computer and add like five more zero's to their account and fix everything? Same principal is 100 years ago too I guess, why not just print more cash? by ss89898
I remember Venezuela had something like this too. But I'm not sure if it was to do with the country printing money.