Our Economy
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by 5n4keyes
OK, Ive decided that im tired of hearing that our Econony is a disaster, and that everythings dead.
Its being blamed mostly on Imports that were not selling anything, well heres some intresting stats, note they are taken from the start of v1.
Gross domestic product (GDP) 315.62 Gold
Monthly exports 227.87 Gold
Monthly imports N/A Gold
Inflation -38.56 %
Note the way stats work now, are from set dates rather than months themselves, so todays data is spanning from October 2nd to November 2nd.
Inflation is going down, good stuff, but most intrestingly, in the past month we have bought nothing which has been imported, and we have exported a fair chunk of products!
Now these are stats that are avalible freely via the country administration pannel, under Economy tab.
Our Economy is infact doing extreamly well, infact we have one of the strongest Economys in the v1 world! The reason alot of products are not selling is because of Quality, Q1 and Q2 food is virtually worthless, infact just using that food will lower your wellness!
Houses, selling! Gifts, Selling, I personally buy around 100 Gifts a day to keep my workers wellness up!, Tickets, Selling!
There is no Economic Issues, stuff is selling, maybe not as fast as people would like, but that is to be expected. Were a small country, with small needs, of which many companys are at there optimum performance, were always going to over produce, its why we should be one of the key players in exporting. There are many countrys in eRepublik which are lacking in Product needs!
So do not listen to the rubbish being put out there, everyone has jobs, unlike some countrys where workers cant find work! Norway for example! massive unemployment! Wages here are fair! many countrys wages are insanely low!
eIreland has a fantastic Economy, all we need to do is begin exporting to countrys that could benefit from what we have!
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The problems with the economy is V1 overproduction, plain and simple. V1 massively boosted productivity, yet did not change the demand for goods at all. Which means suddenly we produce 5x the food we need. This is what caused foreign imports as well. They are exporting because they cannot sell in their own countries! This is a global phenomenon, not something unique to Ireland where we can point blame like the opposition is!
We have a two options in my view:
a) Export. This doesn't seem particularly attractive to me, because like I said before, everyone is having the same problem.
b) Shift production out of food, etc, and into hospitals, defence systems, and houses.
In my opinion we need to do b). Houses have the potential to be much cheaper and readily available now, same with hospitals and defence systems.
B sounds as though it is a decent Idea. The economy really isn't the pres's fault. As most people stocked up on a crap ton of food b4 beta ended, and now is making food not sell.
However, shifting all the focus outta food my hurt us in the long run. When stocks run out.. and no one is producing.. The new wellness system makes q1 and 2 food useless.
So thinking the expense of q3 food, maybe we need to raise the min wage a little or the new citizen tax a bit to make the newer players be able to afford the q3 food. This will push some food sales imo.. If i am wrong please do let me know, and don't troll, but be constructive.
Cloud, I am not talking about shifting everything out of food, but lots of it. Think about it like this:
In beta, we had a relatively stable equilibrium of food production and food consumption.
Now suddenly we have V1. Everyone still needs 1 piece of food everyday, that hasn't changed. However suddenly there is way more food out there because all workers produce way more. So we don't need many workers in food anymore like we did before. Suddenly things like houses for everyone is a reachable goal.
Irelands V1 economy needs to get out of beta mode.
Well if you feel that the economy is going well..then well done for your optimism.
Anyone who owns a small company and does not have access to Snakey's millions, will know that it is impossible to sell anything these days.
It's impossible to sell anything because our workforce distribution is still relatively the same as beta. We need to get workers out of overproducing manufacturing industries and into construction industries.