If “value” and the economy are essentially man-made, why can’t the world just sort of… Hit pause to avoid global economic crisis?

1.58K views

I know there must be reasons and this is a dumb question, but I’m a bit of an abstract thinker and have trouble grasping it from a big picture presepctive. Can someone break this down for me? Can’t we all just kind of agree to just kind of… Reset some numbers or something?
Sincerely,
I’ve never taken an economics class in my life

In: Economics

26 Answers

Anonymous 0 Comments

The simplest answer is because we cannot hit pause on our consumption of items that have “value”, e.g. food, rent, public transport or petrol for your car, etc.

Businesses need to continue to pay rent and salaries, people need to continue to eat, etc. And because the global economy is dependent on everyone continuing to transact with each other at an expected or ever-increasing rate, hitting pause is the exact thing that will cause a global economic crisis.

You are viewing 1 out of 26 answers, click here to view all answers.