Could the WW have something like a credit crunch?

[moonlite_tryst]

I'm not an economist and only have the vaguest idea about things such as GDP, inflation, deflation, customs and excise, but I do get that countries survive by trading with other countries, providing a marketable product or service, or selling a natural resource in demand by others. A ridiculously simple overview I know..

Which leads me to my questions:

How do you think the wizarding world economy works?

Do Uk wizards trade with other communities around the world and what do you think the UK wizards could offer?

Do galleons rise and fall in price like other monetary systems? Would Voldemort's actions have had a negaive impct on the WW economy?

How does Gringott's operate?

Do the goblins charge their human customers and would they have something like the Muggle money markets to make a profit on all that gold etc sitting in their vaults?

Could famillies like the Malfoys, Blacks and Potters have amassed their fortunes by taking advantage of generations of Muggle labour or Muggle ambition, such as trading in tea, porcelain, opium etc?

I'm thinking this gathering of wealth on the back of Muggle labour is very likely because there must've been Muggle borns throughout the centuries. Would the heir to a grand estate been made to renounce his title because he was a wizard?

Thoughts?

Comments

[oldenuf2nb.livejournal.com]

I would say that they would probably mirror the other monetary systems, and any war as an impact on the economy of the countries involved. In America, wars have been good for the economy. (if you don't count the current mess, which clearly is the exception). And I would think yes, being involved in a 'civil war' of sorts would certainly affect the economy.

I think the Goblins would charge interest. And I would absolutely believe that they would be invested internationally. They're too clever not to.

[moonlite-tryst.livejournal.com]

Which begs the question why are they allowed to control the money in a society that treats them as less than equal? I'd've thought it an obvious thing to freeze the WW assets, those superior ministry officials would soon open a dialogue about equality.