What are the economics behind printing of currency?
The basis of determining maximum amount that can be printed and floated in an economy. The effect of printing currency without cash reserves against each print.
What are the economics behind printing of currency?
What is wrong with the Philippines?
Wasabi Potato Chips…my latest snack addiction (at De Castro Subd., Brgy. Sta Lucia, Pasig City)

Wasabi Potato Chips…my latest snack addiction (at De Castro Subd., Brgy. Sta Lucia, Pasig City)

Will the Manila Airport immigration office or the Philippine Overseas Employment Administration find out about my secret ticket to Qatar?
If I have
  • A ticket from Manila (MNL) Philippines to Singapore (SIN) - 1 SEP - AirAsia
  • A return ticket from Singapore (SIN) back to Manila (MNL), Philippines - 20 SEP - AirAsia
  • A ticket to from Singapore (SIN) to Doha (DOH) Qatar - 1 SEP - Qatar Airways

My plan is that I will fly to Singapore making the airport staff think I’m going to Singapore as a tourist, but once I reach Singapore, I will trow the return ticket away, and fly directly to Qatar.

My question is: When I check in at AirAsia desk in Manila Airport, will they find on their system that I have a ticket to Qatar from Singapore even if I hide my ticket and Qatar visa? Will any other staff like at the immigrations office in Manila airport or Philippine Overseas Employment Administration find out I’m actually traveling to Qatar through Singapore?

  • I’m Filipino
  • I have a valid tourist visa for Singapore
  • I have a valid work permit visa for Qatar

Why I’m complicating things?
Last months I went to Manila Airport to catch my 1 stop flight to Qatar, the check-in desk asked me if I have a visa, I showed them my Qatari work permit visa, then they stopped me from flying because they required me to provide some documents related to working abroad applications that will take up to 3 months to have in hand, then I can pass the immigrations office in the airport. I can avoid loosing my job in Qatar and get those documents from Philippines embassy in Qatar in less than 4 days only.

You might think that I’m breaking the law, well I’m just walking around it “legally”. My Qatari employer told me that if I didn’t enter Qatar within 4 days, my visa and contract will be considered expired. So please help me avoid loosing this once in the lifetime chance.
View Question on Quora
Can inequality in incomes of people be bad for an economy? If yes, how can it, or how does it, hamper economic growth?

Answer by Jacob VanWagoner:

Take a look at this chart.  It’s hardly gospel in terms of how the data was collected, to say much less of what the GINI coefficient actually represents, but here it is nonetheless.

The answer is clearly yes, inequality can be bad.

Usually the form of inequality that leads to very high GINI coefficients is effectively ruler/ruled, confiscate everything/give nothing, use slaves and make sure there are no skilled middles in the country.  And that’s really, really bad, not just in terms of what it does to an economy, but also what it does to the people.

How does inequality lead to inefficiency?
I’d actually say it’s the other way around — corruption leads to high levels of inequality, and high levels of inequality feeds into corruption.
View Answer on Quora
Why do those who support re-distribution think they can avoid the pitfalls of communism?

Answer by Al Nelson:

This question is really a collection of questions and so, a bargain at this price.

[rolling up sleeves] ok, let’s get started….

As always, I am only answering for myself  I have not been appointed the spokesperson for *redistributioinists everywhere.
I am only an armchair game theorist, interested in behavioral science. So feel free to apply new data bias as needed.

1. Why do re-distributionist think they can avoid the pitfalls of communism?

I don’t have a list of the pitfalls of communism. I am sure someone will be along anytime now with a list and I’ll edit in more stuff here.

Redistribution is the basis of couples and families and tribes and is also known as sharing. The idea is, stronger group members assist weaker members, to sustain the group, which nature values over the strong individual.

This is practiced in almost all democratic countries today, by some combination of these types of redistribution:

Redistribution for utility - where value is redistributed through taxes, vouchers and means-tested entitlements, because the society as a whole sees improved utility due to limited wealth balancing. In other words giving $10 to a destitute person does more good for a society than taking $10 from a millionaire does harm.

Land redistribution - for instance, when governments use eminent domain to take control of privately held land, to construct a road, for the benefit of all, despite harm to the original land owner.

Redistribution of responsibility - Most often, when the ablest members are caused to take on more responsibility for defending the group from enemies, for the good of all.

2. What will happen to individual rights  when they place the collective over the individual?

Some individual rights are traded for membership rights in the collective.

For instance, say a couple with a child ends their relationship. The collective might say, the parent that does not keep custody of the child should have a portion of their income redistributed for the care of the child. This prevents the other members of the collective from taking on all of the burden of supporting the child.

3. What makes them think they can run an effective government when government does such a poor job today?

That government is doing a poor job does not seem to be related to the government’s view on redistribution.

Looking at the GINI coefficients of  many nations, we see that the US, Mexico, Argentina and the China have similar levels of economic inequality, but their governments are more or less successful.

Some Nordic countries, like Norway (3), Sweden (5), Iceland (7) and Denmark (9) are ranked well above the US (13) in quality of life standards. Countries with very little redistribution, like South Africa (92) do not score well on quality of life.
Quality-of-life Index

4. How will they moderate their demands for taxes?

Moderation of taxes, no matter the system, occurs by fear of, or actual revolt. If the king or prince or president, caliph or kaiser takes too much, the peasants revolt. If a self proclaimed leader provides no benefits to the group, even if they take no taxes, they are useless and so, thrown out.

5. When they set fair prices for medical services or other regulated services?

I take it you mean, how will they set…
What approach, from history, do you like? Has anyone ever set fair prices for medical care? Rome was pretty hard line, but they made roads, gave free grain for bread and clean public water sources to improve health for all.
Lots of countries regulate essential services, public utilities and the like. I think that is fair.

* the term re-distributionists is not what they call themselves.
View Answer on Quora
Can inequality in incomes of people be bad for an economy? If yes, how can it, or how does it, hamper economic growth?

Answer by Al Nelson:

The very short answer:
the resilience and vigor of a nation’s economy is in the middle class.
Inequality pushes people out of the middle and into one end of the range or the other. 
That arrangement produces an inflexible hegemony of royals and serfs. It makes wars of conquest, between royals, into the main wealth creation method. Instead, recall what happened when a middle, merchant class was created. Everyone in the economy benefitted.
Stretch the bell curve wide, for better results.
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Why do the people of the United Kingdom, Norway, Spain, Denmark, Sweden and Japan still support monarchy, a system where only by being bo…

Answer by Fred Landis:

The person who gets  every possible advantage just by being born in Norway, Sweden, Denmark and Japan is the average citizen.

The quality of life and governments of these countries are the best that exist.

The only one where things are not working very well is Spain and they in fact are turning against the monarchy.
View Answer on Quora
at De Castro Subd., Brgy. Sta Lucia, Pasig City

at De Castro Subd., Brgy. Sta Lucia, Pasig City

at De Castro Subd., Brgy. Sta Lucia, Pasig City

at De Castro Subd., Brgy. Sta Lucia, Pasig City