Discussion Post: The Day the Machines Went off
In your introduction, briefly describe the plot of a disaster movie in which an electromagnetic pulse causes the shutdown of all electronic equipment and financial activity to grind to a halt.
Then, using what you have learned during the course, from the text readings, and from scholarly sources, forecast the effects of such an event on financial institutions and the economy using the following prompts as a framework:
• Hypothesize how the four functions of money would be missed.
• Explain what the immediate effects would be on:
o the rationing of goods,
o employment,
o demand for paper money.
o demand for commodity money (e.g., gold),
o production of goods and services
• Speculate what emergency measures might be enacted to keep the economy running in lieu of having an organized banking system.
• Identify and justify any incidents from history that tell us what we might expect if an electromagnetic pulse actually caused the shutdown of all electronic equipment and financial activity to grind to a halt.
The response must include a reference list. One-inch margins, double-space, Using Times New Roman 12 pnt font and APA style of writing and citations.