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Gold Rush.

  • 20-07-2014 11:17am
    #1
    h.bolla
    Registered Users, Registered Users 2 Posts: 86 ✭✭


    I was just thinking recently. Suppose, even today I guess with oil etc, but back in the day someone would discover gold and suddenly everyone in the local area is in the moutains panning for it.

    Would the sudden wealth in that town/area cause inflation?

    However even if this did happen I guess you would have to factor in all the new people coming to the town (in hopes of also cashing in on this gold)- the sudden influx of new people would probably help balance it out again?

    Or maybe Im wrong?


Comments

  • #2
    Iwasfrozen
    Registered Users, Registered Users 2 Posts: 16,250 ✭✭✭✭Iwasfrozen


    h.bolla wrote: »
    I was just thinking recently. Suppose, even today I guess with oil etc, but back in the day someone would discover gold and suddenly everyone in the local area is in the moutains panning for it.

    Would the sudden wealth in that town/area cause inflation?

    However even if this did happen I guess you would have to factor in all the new people coming to the town (in hopes of also cashing in on this gold)- the sudden influx of new people would probably help balance it out again?

    Or maybe Im wrong?
    It wouldn't cause inflation because prices are generally set at a national level.


  • #3
    sin_city
    Registered Users, Registered Users 2 Posts: 899 ✭✭✭sin_city


    Iwasfrozen wrote: »
    It wouldn't cause inflation because prices are generally set at a national level.

    That's right...All the multinationals with their HQ in Dublin have caused prices in Leitrim and Sligo to keep up with Dublin generally.



    @h.bolla regarding your example, check out Melbourne...that's pretty much how the city came into being.


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