What would happen to the world if everything was free for just 10 minutes?

Updated on : December 6, 2021 by Kate Gibson



What would happen to the world if everything was free for just 10 minutes?

What an interesting question!
I would say that it would largely depend on people knowing in advance that this 10 minute window where everything is free is going to happen at a certain point in time or if it would happen out of nowhere without prior knowledge, as the results would vary greatly depending on of this, in addition. The question is whether people would know that this "free phase" is only going to last 10 minutes or if they are not aware of the length of this period, as even that would influence their decisions.

In case this happens without anyone expecting it, things would not be so drastic since chanc

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What an interesting question!
I would say that it would largely depend on people knowing in advance that this 10 minute window where everything is free is going to happen at a certain point in time or if it would happen out of nowhere without prior knowledge, as the results would vary greatly depending on of this, in addition. The question is whether people would know that this "free phase" is only going to last 10 minutes or if they are not aware of the length of this period, as even that would influence their decisions.

In case this happens without anyone expecting it, things would not be so drastic, since it is most likely that before someone can notice it, let alone react properly, the period will come to an end. Imagine Black Friday on a larger scale, people would just randomly buy things around them and the financial markets would probably crash. But in general, the damage would not be that great (the question is what do we consider as significant damage) since the period of time would be very short, now if it were 24 hours or more, the consequences would be much greater.

In case people realize this before the event, the whole economy is likely to slow down as people would not buy many things (except daily necessities: food, water, gas) as they would be expecting that You can get free goods at a certain time, so why waste resources (money) on them? That is, if we assume that people must continue to sell during this period, if they had the option not to sell, the rational for everyone would be to close stores, close financial markets, etc. during that 10 minute period, so nothing. It would really happen, no one would have the option to do business for 10 minutes, and globally, you would probably lose 10 minutes of GDP.

The last option is to start this Free period but people do not know if it will ever end, since everything would be free many things would be practically useless, why are you going to "buy" or rather acquire investment capital if? that is not going to be worth anything in the future? You may be able to "sell" it for free, but what's the point then? Since the period lasts only 10 minutes, life would return to normal pretty quickly, but if this period were several months, our economic system would completely collapse. It would not make sense to offer your services, work and products to others if they are free ... you would work only for yourself, that would set our society back several millennia when it comes to the economic system.

Regardless of the scenario, the financial markets would be the first to crash, I think, since the purchase is done so conveniently that you don't have to walk somewhere to buy and be physically present there, you just do everything through the computer, 10 minutes is enough for you to acquire a huge capital. everyone who participates in the financial market would be acquiring capital like crazy, but here comes the problem, there is a certain amount of capital in the market (supply) and a certain demand for these assets (demand). Both forces are kept in equilibrium by basic economic laws. Demand increases, there is not enough supply, prices go up. Demand decreases, there is more supply than is demanded, prices fall. In your scenario, this law would not apply, Increasing demand will not increase the price since everything is free. Under normal conditions, rising prices would keep demand in check, as not everyone is able or willing to buy assets at a higher price. But there is nothing here to stop anyone from "buying" more if everything is free. Now what would happen? If the markets had the option to close, they would do so during that period, as I said earlier, if not, some people would be lucky and "buy" everything they can get their hands on up to there. it was no longer worth selling. But there is nothing here to stop anyone from "buying" more if everything is free. Now what would happen? If the markets had the option to close, they would do so during that period, as I said earlier, if not, some people would be lucky and "buy" everything they can get their hands on up to there. it was no longer worth selling. But there is nothing here to stop anyone from "buying" more if everything is free. Now what would happen? If the markets had the option to close, they would do so during that period, as I said earlier, if not, some people would be lucky and "buy" everything they can get their hands on up to there. it was no longer worth selling.

Now this is all just in theory, in reality nothing can be really free, it is impossible for various reasons.

1.) Resources are scarce and finite: This should already tell you that things cannot be free if there is a set amount.
2.) Work - someone has to extract resources, refine them, manufacture goods from them - if things were free, there would be no reward for their effort, why bother to work except to obtain essential things for their own survival.
3.) Demand x Supply. - previously mentioned.

I say this because the conditions that you propose in your scenario cannot be achieved in the real world, the goods and services will always have a certain price if the price will be reflected in the amount of money that you have to pay or in the number of cows that you need. Bartering for the goods and services you want is irrelevant, there is always a "price." Look, there's nothing like free lunch - concept

Answering this question first requires an inquiry into what is "everything" and what is "free". For example, if a consumer buys a shirt from a store and the shirt is free, then the good has zero economic cost to the consumer, but the time and labor required to produce that product would be of an economic cost other than zero. Human capital, for example, which assesses the economic value of a worker's skills, can be measured, as can the four factors of production: land, labor, entrepreneurship, and physical capital. Therefore, the value of the total effort devoted to producing a good or service can

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Answering this question first requires an inquiry into what is "everything" and what is "free". For example, if a consumer buys a shirt from a store and the shirt is free, then the good has zero economic cost to the consumer, but the time and labor required to produce that product would be of an economic cost other than zero. Human capital, for example, which assesses the economic value of a worker's skills, can be measured, as can the four factors of production: land, labor, entrepreneurship, and physical capital. Thus, the value of the total effort put into producing a good or service can be well measured, thus eliminating any notion of "free" in a broader sense.

If we restrict "all" to acquirable goods and services of any kind (capital goods, consumer goods, investments, etc.) and restrict "free" to mean zero economic cost to the consumer, all of this happens in 10 minutes. , and after that time the goods and services once again have a non-zero economic cost to the consumer, then there are a plethora of events that can take place.

The fundamental objective of a producer and seller of a good or service is to make a profit, and a profit in its simplest term is sales less costs. As mentioned above, selling goods and services requires that the producer or distributor has allocated financial resources to one or more of the four factors of production. If the good or service suddenly has zero cost to the consumer, then the producer and distributor have no incentive to sell, and in those 10 minutes, consumers will probably not be able to buy goods or services when distributors close their markets. Online markets are likely to close as well, and all non-zero shortage goods and services will not be sold or allocated on a predetermined basis, either on a first-come, first-served basis or by some random sampling method. Of course,

During these 10 minutes, human selfishness and innate desire for zero-cost goods and services would lead to massive instability and chaos, even if only for a short period of time. In those 10 minutes, the entire status quo and the global economic system would be completely disrupted, and although the entire test would last only 10 minutes, the shocks of momentary peaks in consumer demand and the acquisition of goods at zero cost to the consumer would have lasting impacts on the world economy and global markets. Those who could take advantage of this new but transitory market would benefit enormously, while the rest of the consumer base would suffer the tragedy of the commons, where selfish economic actors deplete resources and produce the greatest benefits for themselves. In practice, there would also be social consequences, from long lines at the local supermarket to large-scale conflicts between groups of people and an inherent power struggle between those who control socio-economic power structures and those who do not; It would make Black Friday look like a walk in the park.

In this type of situation, I would naturally follow Angus Freeman and try to acquire high value goods, and once the 10 minutes is up, I will sell those goods for a profit. However, getting over the angry crowd of consumers, whether physical or digital, would be a tough job for any man.

Thanks for the A2A!

Basically nothing outside the normal distribution if we know what is going to happen.

If everything (goods, not services) is going to be free (it doesn't cost money) for 10 minutes, the biggest problem in getting things will be logistics and organization.

If you want a car, you will need to go to the dealership to pick it up. The best way to get the most things is to hire people to get them. In other words, the guys with the most money will have the biggest draw for resources to collect and transport whatever they want. That's basically what happens now anyway. But instead of paying shoppe

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Thanks for the A2A!

Basically nothing outside the normal distribution if we know what is going to happen.

If everything (goods, not services) is going to be free (it doesn't cost money) for 10 minutes, the biggest problem in getting things will be logistics and organization.

If you want a car, you will need to go to the dealership to pick it up. The best way to get the most things is to hire people to get them. In other words, the guys with the most money will have the biggest draw for resources to collect and transport whatever they want. That's basically what happens now anyway. But instead of paying buyers, you pay producers.

If no one knows what is going to happen, whoever is in the right place at the right time will get the right material. It will be somewhat random and chaotic for 10 minutes and then back to normal with little interruption because how much can you really charge at once?

This is a great question and it is difficult to answer, as much as I fantasize about a future like this (I think I personally would prefer a time limit of one or two hours), there would be a lot of chaos, like Black Friday, but worse. I'd love to take this time to get what I want, like a new computer or TV, but is it really worth sacrificing your life to finally get the things you want, but can't afford, in a while? Time limit of ten minutes or one hour?

Tens of millions of people would die in the stampedes and most of the merchandise (wealth) would be destroyed.

A lucky few would get whatever they could carry to sell the next day. After all the destruction, the prices would be very high. Those few would get very rich. And humanity would be much poorer.

The rich would have bought everything they needed before the 10 minutes began, so they would not be harmed.

That is very simple; Either no one would sell anything until the 10 minutes were up, or there would be an increase in the flow of goods.

As for me, assuming people are still selling things, I would buy the most salable high-value products, then sell them after 10 minutes and be significantly richer than I was before.

Companies lose a part of their products. People take what they want. Disorder, war, whatever the implications, ten minutes is still a significant amount of time to do good and bad things.

  1. I want to cruise around the world (small stable cruise) with my husband and of course my dog ​​should be welcome. And it has to be a large room with a balcony and a private heated pool. Room service, free drink. I also want to choose my own destinations and excursions. And it could last a lifetime if I like it. That is my first wish. Why? because traveling becomes more and more exhausting as I get older and there is so much more I would like to see, but maybe from a reclined position.
  2. I wouldn't mind having a big house with no neighbors besides an indoor pool. I love my house but the city has become my 'ho
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  1. I want to cruise around the world (small stable cruise) with my husband and of course my dog ​​should be welcome. And it has to be a large room with a balcony and a private heated pool. Room service, free drink. I also want to choose my own destinations and excursions. And it could last a lifetime if I like it. That is my first wish. Why? because traveling becomes more and more exhausting as I get older and there is so much more I would like to see, but maybe from a reclined position.
  2. I wouldn't mind having a big house with no neighbors besides an indoor pool. I love my house, but the city has turned my neighborhood into the largest construction site in Europe, really! Which means more people in "my" park and supermarkets. Why? Because I get more and more antisocial as I get older.
  3. I would love to have my own little submarine so I can dive into the depths of the ocean and see what's there. It would have to have all the comforts of home. Why? I am a secret fish. I would have put 'breathe underwater' but it's cold after a while even while diving in the tropics. But I would take that one too!
  4. I would like to have a sensory deprivation tank in my house. Why? It's disgusting to share and it's like using psychedelics without drugs. It's good to look in once in a while and it's an easy way (although it can be scary, too). It would be a place to experience daydreams, something I think I do a lot anyway. Sometimes I mistake them for reality and wish I could facilitate more lucid dreams, and those tanks are a good way to do that.
  5. Ways to fly: I wouldn't mind a private jet that could take my family and friends to Europe, where I could sleep in a bed and go from Amsterdam to San Francisco, Seattle, Florida, New Jersey, Chicago and Houston (all the places where my loved ones live) and not feel like death upon arrival. I would also like to have a plane for European trips, a helicopter to take me to those inaccessible places and a hang glider for when I arrive (I like to fly and it is part of that dream life).

It is an interesting question. What if we could have all of our basic needs taken care of by a technical infrastructure that did not require attention? If we lived, as Richard Brautigan said, all watched over by machines of loving grace?

Initial indications are not promising. As a culture, we seem to be enthusiastically replacing humans with machines to promote capital accumulation. But the endgame seems to be making humans redundant, without taking care of their needs.

It is not very well thought out. If no one has a job, no one can buy the products they

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It is an interesting question. What if we could have all of our basic needs taken care of by a technical infrastructure that did not require attention? If we lived, as Richard Brautigan said, all watched over by machines of loving grace?

Initial indications are not promising. As a culture, we seem to be enthusiastically replacing humans with machines to promote capital accumulation. But the endgame seems to be making humans redundant, without taking care of their needs.

It is not very well thought out. If no one has a job, no one can buy the products that their robot-controlled factories produce. You cannot accumulate capital if there is no one to accumulate it from. This is a death spiral for capitalism, and very few capitalists have a clue what to do about it, since the only tool they know how to use is to cut the foundations of the system.

But suppose we get out of the death spiral by changing the system. What is a world like when it is not driven by scarcity and fear? What if everyone can be fed, clothed, housed, and kept healthy? What if no one has the wolf at the door?

I think that would require a really profound change in what we value. (I must say, another really profound change in what we value as we already had to have a profound change before that.) Do we all sit around all day learning and making art and music and playing? Do we take care of each other and do we take care of ourselves?

Or do we also do what humans have always done: find reasons to form affinity groups, exclude people we don't like, argue about things that don't matter, gossip about who's sleeping with whom, make fun of people we don't dress correct, scold people for doing the wrong thing, and worse? What if we could literally spend all of our time worrying about what other people think? What if the only anxiety we had left to face was social anxiety?

This then requires another really profound change in what we value. I think they are turtles to the end, to be honest.

I still think it's worth a try. I really prefer the future where machines are giving us what we need to one where everyone who lives outside of the armed complexes of the .1% is hungry and desperate.

Everything is free, right?

Let's start with the assumption that I can only have things that you actually CAN theoretically acquire and keep because someone already owns them (so no, I can't take in the world's air, world's water, the sun, etc.). Suppose further that I keep whatever I buy. So the answer is simple:

I take control of all the governments of the world, acquire all the weapons on the planet and then install myself as Emperor of the World.

That? Are you saying I can't do that? Sure I can. How do you think world leaders come to power? The only difference here is that I would be the ONLY world in which

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Everything is free, right?

Let's start with the assumption that I can only have things that you actually CAN theoretically acquire and keep because someone already owns them (so no, I can't take in the world's air, world's water, the sun, etc.). Suppose further that I keep whatever I buy. So the answer is simple:

I take control of all the governments of the world, acquire all the weapons on the planet and then install myself as Emperor of the World.

That? Are you saying I can't do that? Sure I can. How do you think world leaders come to power? The only difference here is that I would be the ONLY world leader.

Of course, I will be a dictator. But I will be a benevolent dictator. There will be no more wars because I will be the owner of the entire government. Now everyone has to work together. Everyone, of course, will give me a 100% approval rating on all polls. Oh, and all public debt is hereby abolished. I need a clean slate. That? Don't you want to pass my rule? It's fine. This will remain a free world. Just remember, if you don't agree, then you realize that I also own all nuclear weapons, so don't argue with me or Everyone Dies ™. I see that now everyone agrees.

The first thing we do is get rid of all those pesky tariffs and trade barriers. We are all one world now. No more borders. There is no need to worry about all those immigrants who come to "their country" because there are no more countries. There is only one world government. Under me.

Then everyone is acquiring capitalism. None of this communist or socialist. If you want something, you have to pay for it. Except me. I can have whatever I want because I have the resources of all the treasuries in the world. Yes, I'll pay you for your things. I am not a cruel dictator. Still, it is good to be Emperor of the World.

I'm going to cut taxes a LOT. Remember that I have all the weapons. I really don't need that much defense spending anymore. I really don't need too much law enforcement. I guess we still need a little law enforcement, but things will be a lot easier for a while without anyone having guns. Yeah, I know all my friends thought I was a huge Second Amendment supporter and all that, but hey, if I'm the world emperor, I don't want anybody to have ideas and shoot me or anything. Sorry gang, you can't have more guns. On the plus side, you probably don't need them because criminals don't have guns either. Remember, I took ALL the weapons.

Oh, and feel free to smoke all the weed you want. All drugs have been legalized. Prostitution too. The same goes for gambling. All alcoholic beverage laws, except those that allow persons under the age of 21 to purchase liquor, are hereby abolished. Those of you in Quebec and Ontario, stop complaining about me raising your drinking age. Don't worry about the Mafia, the Triads, the Yakuza, remember I took ALL the guns, so organized crime is no more. But don't ever marry underage girls because the age of marriage is now 21. NO EXCEPTIONS. At first I was going to increase it to 18, but I really want to make sure that all the women in my new empire receive an education and can live alone without being pressured by their families to marry. The key to reducing population growth and increasing world incomes is having highly educated women.

Speaking of education, I will return education to local control. Yes, that means I will let everyone have a local government. It is not the national government, yes. There are no national governments or state governments. Just my only world government. But I can't literally do everything for everyone, so almost everything is returned to local control, be it at the city, county, or both level. However, all tax revenues have to go to the world central government for redistribution strictly on a population basis. Remember I got rid of all borders so people can go where they want now.

Similarly, health will return to local control. Well, except for two things. Sorry, but everyone should get vaccinated. I just can't have global pandemics in my new world order. In addition, the government will provide emergency medical care free of charge, but only for real emergencies. Anything that can go to the urgent care unit goes to the urgent care unit.

I will honor all current pensions and retiree health benefits, but we are going to start changing this system. I own everything and I don't want to have to raise taxes on all of you to pay it. Everyone should start taking care of themselves in the future, unless they are already in the system or are over 50 years old. Those between the ages of 50 and 55 will see a 75% reduction in future benefits. Those between 55 and 60 get a 50% reduction. Those between the ages of 60 and 65 will get a 25% reduction. I can't really ask you to catch up that much, but those of you under 50 certainly can. Remember that I am also eliminating all systems of Social Security / Medicare / Old Age Pension, etc.

We are getting rid of income tax. I never liked the tax return and I think that VAT is more effective. It will be in EVERYTHING and in a single LOW flat rate (probably around 10%). That's so we don't have efficiency problems. I know, you're thinking that's not enough to run the government, but look at all the things I removed from the government (and read below for even bigger cuts). I will probably generate a surplus every year. Of course, I don't have to pay any VAT. We will also have an inheritance tax. I'm sorry friends, but what you tax, you get less and I want less death. I will start with the death tax on 10% of all assets. The death tax can be paid in cash or in company stock if you have a business. Remember that if many of you are dying, I will be forced to conclude that the inheritance tax is not high enough. so I might have to pick it up. Therefore, I suggest keeping death to a minimum. It is good to be Emperor of the World.

Local governments can only institute a single tax on land, not on property. That is the most efficient type of tax.

Oh, and I don't want any more internal squabbles. Freedom of expression? Sure there will be freedom of expression. Maybe not as much freedom AFTER the speech if you criticize my policies, but. . . It's a prank. Well, it's a joke. You can criticize anyone else but me. Remember, I am the Emperor of the World.

All websites must now install the Be Nice, Be Respectful rules. That, of course, means there is no lese majesty (insulting or disrespecting me) under Everyone Dies ™ penalty. I'm really glad that everyone is kind and respectful, at least to me.

Oh I know what you're thinking Here I invoke Everyone Dies ™ and I am not the owner of the trademark. And that? Is David Consiglio Jr. going to sue me? Can not. I can invoke sovereign immunity to all lawsuits. No. I can do whatever I want. The laws do not apply to me. It is good to be emperor of the world.

Companies? Everyone can have business. I'm going to massively deregulate and eliminate all labor laws with the exception of worker safety laws, but don't take advantage of the situation by trying to defraud people or by refusing to pay workers what you promised. I am a believer in contracts and contracts will be enforced. You will need to have clear labeling and tell people EXACTLY what you are selling. Stop complaining about it. Business taxation has gone except for the single tax on land and VAT. You don't like the level of your one-time land tax? Talk about it with your local government.

No more welfare or unemployment or things like that. I will massively deregulate companies. There are many jobs available. I won't pay you for not working. Go for it. Also, I also eliminated a lot of taxes, so there should be a lot of charity available for the poor.

Religion? Hmm. Well, I think everyone has to register with me. I will continue to allow people to have religion, but I will not criticize my government from the pulpit or try to install its religious laws at the local level. Oh, and you'll have to stop with this ridiculous notion that people of other faiths go to hell. You may think about it, but stop trying to convert people with such nonsense. Now that I think about it, stop trying to convert people, period. If someone wants to join a religion, from now on he goes to you, you don't go to him. I'll let them be advertised on TV or in print, but none of this door-to-door or trying to instill prayers in places other than their places of worship. Remember, criticize me and Everyone Dies ™

.

What about the laws? All laws that are based on offending others (with the exception of lèse-majesté) have disappeared. All laws based on self harm - IDO. All laws based on harmless wrongdoing - OFF. Well, it's almost gone. I intend to protect children, so no child under the age of 21 can enter into any contract and children cannot be prostituted or given drugs or alcohol. Parents will be responsible for their children up to the age of 21. Come on people, I'm a classical liberal libertarian, not an anarchist. Hell, I can't be an anarchist. After all, I am the Emperor of the World.

You should probably hope and pray that I never have the ability to be World Emperor (hint: it's not just me, you don't want ANYONE to become World Emperor because power corrupts and absolute power corrupts absolutely. Unless you want to. let me do it. have that power. So of course wait and pray that I get it. After all, life could be a lot worse. Most people wouldn't be as nice as me, as you can see from many of the other answers to this question.

However, fortunately, I have good news! I've been to the future and I've seen what the future really is. This whole exercise was quite prescient in a way. Everything I tell you will come true in time. Therefore, I strongly suggest that you vote for this answer. You don't believe me and plan not to vote for this answer? Not a very good answer, I would say. This is really Pascal's last bet, and you know I exist. Just remember, when I become Emperor of the World, I will come back and see who votes for this answer and you will be favored. If you don't vote up, bad things will happen.

You see, I keep a list of people who see this but don't vote for this answer. Anyone who does not approve of this answer must understand that if I ever become World Emperor, I will use that list. Without telling you why. But let me give you a hint: Everyone Dies ™

I guess "Everything is free" does not imply that "everything is for sale" and I would still have to know / find out how and where to buy it.
That just removes "The whole world land", "One country" or anything important.

In 30 minutes, there is not much that one can buy considering the whole process of going through the payment method, but since you mention "a house", I would assume that I would not consider the purchase process, it is just "click buy and it is your to instantly. ”I would
buy all the islands I can find in: Islands for sale around the world
Also, maybe a bank Banks for sale | MergerNetwork.com

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I guess "Everything is free" does not imply that "everything is for sale" and I would still have to know / find out how and where to buy it.
That just removes "The whole world land", "One country" or anything important.

In 30 minutes, there is not much that one can buy considering the whole process of going through the payment method, but since you mention "a house", I would assume that I would not consider the purchase process, it is just "click buy and it is your to instantly. ”I would
buy all the islands I can find in: Islands for sale worldwide
Also, maybe a bank Banks for sale | MergerNetwork.com
And if I still had time, To Kurata: 水 道橋 重工 | Suidobashi Heavy Industry
Y anything interesting I could find: that's why I'm broke

Some of the islands I would rent to be able to live because I do not have a source of income and others I would turn them into refugee areas for refugees from any nation, and one, the one I liked the most of all. , I would become my private island.

The bank that I would use, not only as a source of income, but also to try to create a fairer banking system and move it to my country, to disrupt the current system and at the same time help people and earn money for my own life. and needs.

The Kurata would not only be for my fun, but I would also use it as another source of income when renting it for events, as it is still something really unusual.

Assuming you have time for all of that and the ability to get everything done after you finish it and considering that you would be aware of this "full 30 minute free period" before it starts, this is what I would try to do, get everything ready. before it started, so I'd cut down on the time it took before I started by preselecting what I would buy.

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