Guffingfordian Economy

Economy

When you say Guffingford's economy, you say Tsarist Russia, except for the slavery and serfs working the land. Extensive railroad networks have been laid with capital from foreign corporations because the Guffingfordian economy - 82% mining industry, metal working, argiculture and other raw material processing and plastic related industries - is incapable of raising funds for massive projects. Banks are not state owned, but there are too few to get the economy going and to exploit all natural resources. Plastic money in the shape ATM cards, credit and or debit cards or bonus card systems are non-existent. The population of Guffingford still use coins as their first means of payment. A more dark idea lies behind this: large sums of money are a lot easier to track by the STASI, the Guffingfordian secret service. Hyper inflation was a common phenomenon up until the 1950's, and in 1951 Guffingford's first stable government decided to further the stability, and create a reliable, solid currency. The Dukaat Gulden was born and the currency and therefore the whole economy was put on a gold standard. This proved to be a very wise move, since Guffingford fell back on gold many times in the future to ease the load on its economic shoulders. During the Great Depression of 1931 in Guffingford, the biggest platinum ore deposits of the known world were found all around Änglenbach which caused a drop in coin value which decreased platinum's value for over 39% overnight. Today the prices for consumer gold, platinum, rhodium, palladium, silver and electrum are fixed within set boundaries.

Overview

On itself the economy seems imploded to outsiders, but because of hundreds of foreign syndicates the economy has a small technology sector (IT, graphic design, telecommunication) but the raw materials handling is by far the biggest. Technology itself is rare for the common Guffingfordian where personal computers are only affordable by the very wealthy and televisions can only be bought by joint effort. Internet doesn't exist for the normal citizen, and doesn't want it actually. Both in purchasing behavior the citizens of Guffingford are extremely conservative. Many modern hypes such as cellphones don't seem to catch on, and are somehow viewed with unhealthy suspicion. Only the military and the highest tiers of the governmental apparatus has the funds and means to have the most advanced tech available.