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.
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.
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.
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.
The strongest currencies in the world are actually:
1) Kuwait
2) Bahrain
3) Oman
4) Latvia
5) UK (and some of its dependencies)
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.
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.
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