Is it possible for EVERYONE to be wealthy?

United States
January 23, 2007 2:13pm CST
What do you think life would be like if the majority of the population was wealthy? Do you think its possible?
2 responses
elusivedarkness
@elusivedarkness (531)
• United States
23 Jan 07
It's simply impossible for everyone to be wealthy. It violates the basic principles of economics. Economics seeks to satisfy unlimited needs and wants with a limited amount of resources. If everyone was wealthy than everyone would be able to purchase all their needs and wants, but this is impossible since there is a limited amount. So, it contradicts economic principle. If everyone was wealthy then prices would increase and even then there would be differences in the amount of wealth each person had. So, there would still be people who didn't have everything they wanted. If everyone was equal like in socialism then people could not have everything they wanted. They would just the same amount of resources where there was a excess supply.
JoBruce
@JoBruce (25)
• United States
23 Jan 07
Do you think the government could implement some type of program to increase the revenue of the middle class but just doesnt want to? Or better yet..do you think the government just in general wouldnt want to change the way our economic system is?
Steve Helmer
@srhelmer (7029)
• Beaver Dam, Wisconsin
23 Jan 07
If there was more money to spend, then prices would simply go up. So, what would be considered wealthy now, wouldn't be considered wealthy any more.