World Economy Crash: Impact & Causes

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Discussion Overview

The discussion revolves around the hypothetical scenario of a global economic crash, exploring its implications and underlying assumptions. Participants examine the concept of a closed economic system and speculate on the existence of extraterrestrial economies in relation to economic phenomena.

Discussion Character

  • Exploratory
  • Debate/contested

Main Points Raised

  • Some participants propose that if the world's economy crashes, it suggests that the economy is a closed system, implying that any well-performing economy must have shifted to an unknown location.
  • Others argue that an economic crash does not necessitate the idea of economies moving elsewhere, emphasizing that it simply indicates a rapid deterioration of the economy.
  • A participant challenges the notion of extraterrestrial economies as a serious consideration in the context of basic economic principles.
  • There is a mention of cultural differences in terminology, such as the distinction between "chips" and "fries," indicating a light-hearted diversion in the conversation.

Areas of Agreement / Disagreement

Participants exhibit disagreement regarding the interpretation of a global economic crash and the implications of a closed economic system. Some find the extraterrestrial hypothesis to be far-fetched, while others maintain their speculative stance.

Contextual Notes

Limitations include a lack of clarity on the definitions of economic terms and the assumptions underlying the closed system concept. The discussion does not resolve the complexities of economic interactions or the validity of the extraterrestrial hypothesis.

jk22
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Suppose the world's economy crashes, this would mean :

1) it was not the whole world, since the Earth economy is a closed system, so the well going economy went somewhere else not known ?

2) there are extraterrestrial economies outside the solar system maybe ?
 
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An economy crash means that the economy rapidly deteriorates compared to its previous state. It doesn't have to go somewhere else.
 
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jk22 said:
Suppose the world's economy crashes, this would mean :

1) it was not the whole world, since the Earth economy is a closed system, so the well going economy went somewhere else not known ?

2) there are extraterrestrial economies outside the solar system maybe ?
In addition to what @AndreasC said, it sounds like you need to study some very basic economics. Hypothesizing extraterrestrial civilizations for such a simple concept is a bit off the wall.
 
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Please pardon me; chips in England are still fries in the US, right?
 
Freedom fries.
 
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jk22 said:
1) it was not the whole world, since the Earth economy is a closed system, so the well going economy went somewhere else not known ?
What do you think closed system means?

1609003441323.png
 
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Thread closed. This is either not a serious question or it is based on a very naive understanding of how economies work.
jk22 said:
Suppose the world's economy crashes, this would mean :

1) it was not the whole world, since the Earth economy is a closed system, so the well going economy went somewhere else not known ?

2) there are extraterrestrial economies outside the solar system maybe ?
 
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Likes   Reactions: davenn, berkeman and BillTre

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