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Re: USD = LOD?

PostPosted: Mon Aug 19, 2013 9:18 pm
by Siggon Kristov
EEL123 wrote:I proposed that the total Terran GDP is equal to the real world GDP $70 trillion). Then we calculate the value of the LOD based on that.

The LOD's rate is already-set.
I'm not fully understanding you.

Re: USD = LOD?

PostPosted: Tue Aug 20, 2013 8:23 am
by EEL123
The GDP of Lodamun is 267.3 billion. I'm not sure if its exact economic strength, so I'll just assume that its GDP is about average. The real-world total GDP is around $70 trillion. There are 58 countries in Particracy, so each country's GDP would be (on average) $1.2 trillion. That means that 1 LOD would be about US$4.

Re: USD = LOD?

PostPosted: Tue Aug 20, 2013 9:51 pm
by Siggon Kristov
EEL123 wrote:The GDP of Lodamun is 267.3 billion. I'm not sure if its exact economic strength, so I'll just assume that its GDP is about average.

Yeah, it's about 106% of world average (Ranked #28) for GDP, and 106% of world average (Ranked #30) for potential GDP.

EEL123 wrote:The real-world total GDP is around $70 trillion. There are 58 countries in Particracy, so each country's GDP would be (on average) $1.2 trillion. That means that 1 LOD would be about US$4.

Thanks for you insight to this.

--

You have just proven that:
1) Lodamun's currency is strong, but it isn't an economic powerhouse.
2) Lodamun's currency is not equal to the USA's.

I hope the rest of the community can stop talking crap now.
The strongest currencies in the world are actually:
1) Kuwait
2) Bahrain
3) Oman
4) Latvia
5) UK (and some of its dependencies)

I've never heard of Latvia or Oman being referred to as economic powerhouses. Currency strength doesn't mean an economy is super awesome.

Re: USD = LOD?

PostPosted: Sun Nov 16, 2014 4:54 pm
by Doc
Moved to a new thread on Indexing Economies

Re: USD = LOD?

PostPosted: Sun Nov 16, 2014 5:07 pm
by Siggon Kristov
Doc wrote:Then we look at how that country spends its money: We can see what it spends on similar spending programs that we spend our money on. If it is a social democracy, and we are a social democracy, we can look at how it spends its money on health, education, food etc. If it is a liberal country, obviously it will have different spending break downs. We would have to look at spending as a percentage of THEIR GDP and compare it to our spending AS A PERCENTAGE of our own GDP. This would help us get a better idea about a real economic valuation in our own country.

In short, comparing our currencies to the LOD will not give us any idea about the RL value of our currency or the size of our economy. We would have to find a less arbitrary figure, like an index of economies to compare to a similar index in the RL World.

Agreed. Have the spreadsheets helped you? You can use them to list everything in a single currency instead of doing constant conversions. They also provide information about spending as a percentage of GDP, and you can rank countries by how much they spend on X in total, how much they spend on X per capita, and how much they spend on X as a percentage of GDP.

Re: USD = LOD?

PostPosted: Sun Nov 16, 2014 7:02 pm
by Doc
(deleted b/c of new thread on Indexing economies)

Re: USD = LOD?

PostPosted: Sun Nov 16, 2014 7:06 pm
by Doc
Great avatar, BTW- I studied US destabilization of the Manley Government as part of the preliminary research for my dissertation, and included his work on destabilization in more than one paper I have written on the topic of destabilization as foreign policy.

Re: USD = LOD?

PostPosted: Mon Nov 17, 2014 3:19 am
by Doc
Moved to the thread on Indexing Economies

Re: USD = LOD?

PostPosted: Mon Nov 17, 2014 3:28 am
by Siggon Kristov
Doc wrote:Lodamun has the 4th Largest economy in Terra (behind Rildanor, New Endralon, and Istaliana,) and indexed, their economy is similar in size compared to the rest of Terra, to countries like Malaysia or Poland. Big economy, yes, but US big? Nobody on Terra even comes close to that. (for your curiosity, Istaliana has index numbers of 167 and 196, while the US has index numbers of 6060 on the Quintile Index, and 4345 on the Mean Index. So, that solves that Question.) Unless you wanted to index the world's economies to the US GDP, and then, most of the economies of the world wouldn't register as even existing.

The thing is that all this was unnecessary. Even if Lodamun accounted for 15-20% of the world's economy like the USA does, it doesn't mean that its currency should be equal to the USD. It takes 3 GBP to make 2 USD; British currency is valued more than US currency, but that doesn't mean that the UK has the largest economy in the world. The Cayman Islands has a strong currency, but that doesn't mean that their economy is large. The size of an economy is not what determines its currency value.