Economists in the house, please give me your best answers to this.

If there are 1 million persons in a city, and there is N10bn in active circulation in the city,, which of these economic situations should be the best??

1. A situation where one person becomes a billionaire, and the rest of the 999,999 persons hustles for the remaining N9bn.. (of which some might get very high out of it, and some may have zero.. Others may even be running on a negative -- whereas, if the remaining balance was shared equally amongst the remaining persons, they would get N9,000 each or thereabout) - (for instance, a true capitalism)

2. A situation where about a thousand persons become millionaires, but there are no billionaires. (And then, if the remaining balance of N9bn was shared equally amongst the rest of the remaining 999,000 persons, they would also get N9,000 each or thereabout) - (this might happen for instance, when the mayor of the city had made the high earners to pay very high taxes, or he created policies that seem not to favour the high earners, and thus, most of the gifted citizens were discouraged from exploring their extreme boundaries of maximising their earning potentials)

3. A situation where about 1 million persons are earning comfortably in 6-digits, and leaving very few thousands of persons to be earning in 5-digits and 4-digits; but then, there are no single millionaires nor billionaires. - (this might occur for instance, in a city where the citizens mostly depend on their salaries and wages, and they seemed to be comfortable with it)

4. A strictly monitored economy where every single citizen is pegged at a maximum of N10,000; so that it becomes that the N10bn is equally shared amongst the 1-million citizens.
Anything that any citizen makes that gets him above the N10,000 maximum is taken away from him by the authorities, and shared amongst the other people. (This might be the case in a communist state)

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Which situation is the best economically??

BluntCrazeMan:
Economists in the house, please give me your best answers to this.

If there are 1 million persons in a city, and there is N10bn in active circulation in the city,, which of these economic situations should be the best??


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Which situation is the best economically??

N10,000 each Spreads income and creates opportunity for more People

BluntCrazeMan:
Economists in the house, please give me your best answers to this.

If there are 1 million persons in a city, and there is N10bn in active circulation in the city,, which of these economic situations should be the best??


..
..
Which situation is the best economically??

N10,000 each Spreads income and creates opportunity for more People
Nobody is left untouched

Christistruth00:


N10,000 each Spreads income and creates opportunity for more People
Nobody is left untouched

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You didn't consider the fact that all of them are equally very poor...!! (no matter how hard any of them tried)

BluntCrazeMan:

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You didn't consider the fact that all of them are equally very poor...!! (no matter how hard any of them tried)

I Billionaire can never build a Prosperous Nation

1 Million poor People with N10,000 each have more Spread and more Chances of discovering new ideas and doing new things

Christistruth00:



I Billionaire can never build a Prosperous Nation

1 Million poor People with N10,000 each have more Spread and more Chances of discovering new ideas and doing new things

Some few weeks ago, the former Governor of Anambra State bragged that his Government created some few billionaires in the state.
Taking the actual situation to be that the wealth of these few billionaires are supposed to be the common-wealth of most of the citizens of Anambra State, and that some government-policies deliberately gave them undue preferential treatments and advantages, would you say that the governor's bragging is misplaced??

BluntCrazeMan:
Some few weeks ago, the former Governor of Anambra State bragged that his Government created some few billionaires in the state.
Taking the actual situation to be that the wealth of these few billionaires are supposed to be the common-wealth of most of the citizens of Anambra State, and that some government-policies deliberately gave them undue preferential treatments and advantages, would you say that the governor's bragging is misplaced??

Completely misplaced

Christistruth00:



Completely misplaced

Thanks For Your Opinions.

Lalasticlala,
Seun

BluntCrazeMan:
Economists in the house, please give me your best answers to this.

If there are 1 million persons in a city, and there is N10bn in active circulation in the city,, which of these economic situations should be the best??


..
..
Which situation is the best economically??

Giving 10k each to individual is economic waste of human resources. 99% of beneficiaries will use It to satisfy their appetite.

It is much more better to empowered few by making them undergone training. The few beneficiaries has potential to generate more revenue and employment opportunities for others.