DiscussionsCategory: EconomicsWhy can't we just print enough money?
Cliff ImasuenClassHall Instructor Staff asked 6 years ago

Every nation on earth has one common problem which seems to defy solutions, no matter how smart the citizens are. That problem might be given big names such as economic meltdown, financial crisis, poverty, underdevelopment, as so on, but it actually boils down to one thing – money, or the lack of it.

So I was just wondering why a nation with insufficient resources to fund development projects or pay workers’ salaries can not just print as much currency notes as it needs to solve these problems. At least, everyone will be smiling to the bank. 🙂

3 Answers
Rosemary OtobohEseose Otoboh answered 6 years ago

Printing more money would only result in an extremely devalued and worthless currency. The prices of commodities will inflate which therefore implies that the rate of poverty will increase.

Cliff ImasuenCliff Imasuen Staff replied 6 years ago

But the prices of commodities in the country continues to skyrocket. Prices of goods and services defy the law of gravity because they go up and never come down. Does this mean the government of Nigeria is printing and releasing more currency notes into the economy?

Cliff ImasuenCliff Imasuen Staff replied 6 years ago

Why are prices going up so rapidly if the government is not printing money indiscriminately?

Ismail OlawuyiIsmail Olawuyi replied 4 years ago

Money is a limited resources

Rosemary OtobohEseose Otoboh answered 6 years ago

Of course they are. But it is going into the hands of just few persons

Cliff ImasuenCliff Imasuen Staff replied 6 years ago

I see. But how can we ensure the money and resources are equitably distributed?

Halima AhmaduHalima Ahmadu answered 4 years ago

People won’t respect money again.

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