Janet CollinsA Million Dollars For Everyone Not a Bad Idea
October 2nd 2008 13:10
When reports start talking about dollars in the millions, billions or what may become zillions, it is perhaps far beyond what most of us could comprehend. The financial crisis in the United States has shocked all of us with the figures, even though we probably don’t know what they mean.
I can never understand why our own governments here in Australia boast about how much they are allocating in their budgets to say, health, education, infrastructure or police. The figures mean absolutely nothing to most of us. What are the millions or billions spent in health actually going to mean? None of us know how much it takes to run a hospital – but it sounds good anyway.
A few nights back, Russell Crowe, our academy award winning actor, suggested that one million dollars be given to everyone in the US and this could probably be a solution. Of course, he has be ridiculed since. Is the suggestion so silly really?
A few years back, in one of the “solving the world’s problems” discussions, I asked a friend the same question – “What would happen if the government gave everyone one million dollars?” I did also add another question. “Would it make properties that were now $300,000 now become properties worth $4 million?
That is where I fall short, I must say. I am not an economist and I do not understand the ramifications of such a gesture. In Australia, that would only (and I say “only” in jest) be $20 odd million, not the ridiculous sum that would be the case if the government did the same in the United States.
I am sure some would squander the money. Most, I believe, would relish the idea of knowing they could buy property or other things and secure their future. What I don’t know would be the ramifications of such a program.
While many have criticised Russell Crowe’s idea as being totally ridiculous, there are many ideas that have seemed just as silly and once adopted have been very successful. Just think – the British decided to make Australia a penal colony way back. It has been touted as the biggest social experiment of all time.
Look at us now!
I can never understand why our own governments here in Australia boast about how much they are allocating in their budgets to say, health, education, infrastructure or police. The figures mean absolutely nothing to most of us. What are the millions or billions spent in health actually going to mean? None of us know how much it takes to run a hospital – but it sounds good anyway.
A few nights back, Russell Crowe, our academy award winning actor, suggested that one million dollars be given to everyone in the US and this could probably be a solution. Of course, he has be ridiculed since. Is the suggestion so silly really?
A few years back, in one of the “solving the world’s problems” discussions, I asked a friend the same question – “What would happen if the government gave everyone one million dollars?” I did also add another question. “Would it make properties that were now $300,000 now become properties worth $4 million?
That is where I fall short, I must say. I am not an economist and I do not understand the ramifications of such a gesture. In Australia, that would only (and I say “only” in jest) be $20 odd million, not the ridiculous sum that would be the case if the government did the same in the United States.
I am sure some would squander the money. Most, I believe, would relish the idea of knowing they could buy property or other things and secure their future. What I don’t know would be the ramifications of such a program.
While many have criticised Russell Crowe’s idea as being totally ridiculous, there are many ideas that have seemed just as silly and once adopted have been very successful. Just think – the British decided to make Australia a penal colony way back. It has been touted as the biggest social experiment of all time.
Look at us now!
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