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The '''Economy''' in TNO is a mostly unique and very in depth in-game mechanic which allows players to manage their nation's inflation, trade, expenditures, tax rates, and debt and much more. TNO's economy mechanic has existed within its current state since the [[Toolbox Theory (update)|Toolbox Theory]] update. All of the economy in TNO is calculated in measures of 1960 USD, even if, of course, the world doesn't only use this currency.

==GDP==
The '''GDP''' mechanic includes two functions, the main '''GDP mechanic''', and the '''GDP growth'''.

Three sub-notions are included in this. The first one, '''Surplus''', happens when the nation's revenue is higher than its expenditures. Its effects are that it makes '''Inflation''' go up and '''GDP growth''' go down. The second one, '''Deficit''', happens when the nation spends more than what it has. This greatly affects a nation's economy by weakening '''Inflation''' and investing in '''GDP growth''', however, it also fills it's '''debt''' and, in the long term, could put it in '''Financial Crisis'''. Finally, the third one, '''Reserves''', which fills up after some focuses or when the national budget is in '''Surplus'''.

The '''GDP Growth''' mechanic is determined by subtracting '''Inflation''' to the '''Nominal GDP Growth'''. It greatly affects a nation's economy by expanding your states GDP.

'''Inflation''' is one of the most annoying economy feature in TNO, since there is not many ways to relieve the effect of inflation without damaging your economy in the process. Another option in the inflation subsection is the "'''Money Creation'''" slide bar, which, if you activate it, will give you money but at the expense of making '''Inflation''' go up and cause '''GDP growth''' to worsen.

'''Debt''' is another mechanic of the Economy in TNO. It has a ceiling determined by one's [[Credit Rating|credit rating]]. It reduces when the budget is in '''surplus''' but worsens if the budget is in '''deficit'''.

[[File:TNO Inflation GDP Debt.png|center]]

==Budget==
[[File:TNO USA Starting Budget.png|thumb|right|''United States Budget at the start of 1962'']]
===Spending===
'''Spending''' is divised into 4 sub-spendings:
* Military spending, the cost to maintain soldiers, ships, an airforce, nukes and more
* Civilian spending, all the costs that go into healthcare, welfare, education. and social systems
* Debt servicing, the money that goes into repaying the interests on debt owed
* Other costs, all things that are miscellaneous

===Revenues===
'''Revenue''' is also divised into 4 sub-revenues:
* Income tax, mostly known as tax on the working populace.
* Business tax, taxes on the industries, small medium enterprises and big businesses
* Excise revenue, the money that comes from exports and tariffs.
* Other revenue, all money that comes from other sources.

==Economic Warnings==
[[File:Economic warnings.png|thumb|right|''The Different Economic Warnings'']]
There exists a total of five economic warnings to warn the player about their bad handling of a country's economy that could potentially lead to a fiscal crisis, these are:
* '''Negative real growth''', where the national GDP growth is in the negative.
* '''Inflation critical''', when the national inflation goes above the line of 30% inflation.
* '''Extremely high deficit''', after the nation attains a deficit of more than 10% of your GDP each year.
* '''Critical debt''', when the national debt becomes too high and too difficult to handle.
* '''Bloated reserves''', when the national reserves cross the line of around 10% of the nation's GDP.
* '''Fiscal crisis''', when almost all of these warnings are combined, and gives the player a debuff named "Fiscal Crisis".

==Credit Rating==
Credit Rating shows the reliability of a nation to repay its debtors (coporate, national or private investors). A country's credit rating dictates how much debt they can accumulate and how much interest their debt will accrue.
{| class="wikitable"
|+
!Rating
!American
!German
!Japanese
!Effects
|-
|rowspan=2 align="center"|'''{{color|palegreen|Prime}}'''
|rowspan=1|[[File:CreditRating SP AAA.png|center|100px|frameless]]
<center>{{color|palegreen|AAA}}</center>
|rowspan=1|[[File:CreditRating GER 10.png|center|100px|frameless]]
<center>{{color|palegreen|Keine Besorgnis (10)}}</center>
|rowspan=1|[[File:CreditRating JAP Prime.png|center|100px|frameless]]
<center>{{color|palegreen|Seijyo-saki S-1}}</center>
|rowspan=2|Debt Ceiling: {{color|palegreen|Unlimited}}

Interest Rates: {{color|yellow|+1.50%}}
Effect of debt on Interest Rates: {{color|palegreen|-90.00%}}

Stability: {{color|palegreen|5.00%}}

Effect of debt on GDP Growth: {{color|lightcoral|+25.00%}}
|-
|colspan=3|Countries with a {{color|palegreen|Prime}} credit rating enjoy significant economic power and influence, and can issue effectively unlimited debt (although they are not immune to the side effects of very high debt such as lower {{icon|gdpgrowth}}Nominal GDP growth and high {{icon|inflation}}inflation!)
|-
|rowspan=2 align="center"|'''{{color|palegreen|Exceptional}}'''
|rowspan=1|[[File:CreditRating SP AA.png|center|100px|frameless]]
<center>{{color|palegreen|AA}}</center>
|rowspan=1|[[File:CreditRating GER 9.png|center|100px|frameless]]
<center>{{color|palegreen|Keine Besorgnis (9)}}</center>
|rowspan=1|[[File:CreditRating JAP Exceptional.png|center|100px|frameless]]
<center>{{color|palegreen|Seijyo-saki S-2}}</center>
|rowspan=2|Debt Ceiling: {{color|palegreen|+250.00%}}

Interest Rates: {{color|yellow|+1.70%}}

Effect of debt on Interest Rates: {{color|palegreen|-80.00%}}

Stability: {{color|palegreen|5.00%}}

Effect of debt on GDP Growth: {{color|lightcoral|+15.00%}}
|-
|colspan=3|Countries with a {{color|palegreen|Exceptional}} credit rating can issue large amounts of debt while paying low interest rates. They are usually major powers with stable politics and developed economics.
|-
|rowspan=2 align="center"|'''{{color|palegreen|Good}}'''
|rowspan=1|[[File:CreditRating SP A.png|center|100px|frameless]]
<center>{{color|palegreen|A}}</center>
|rowspan=1|[[File:CreditRating GER 8.png|center|100px|frameless]]
<center>{{color|palegreen|Keine Besorgnis (8)}}</center>
|rowspan=1|[[File:CreditRating JAP Good.png|center|100px|frameless]]
<center>{{color|palegreen|Seijyo-saki S-3}}</center>
|rowspan=2|Debt Ceiling: {{color|palegreen|+200.00%}}

Interest Rates: {{color|yellow|+2.30%}}

Effect of debt on Interest Rates: {{color|palegreen|-60.00%}}

Stability: {{color|palegreen|5.00%}}

Effect of debt on GDP Growth: {{color|lightcoral|+10.00%}}
|-
|colspan=3|Countries with a {{color|palegreen|Good}} credit rating can issue large amounts of debt while paying low interest rates.
|-
|rowspan=2 align="center"|'''{{color|khaki|Intermediate}}'''
|rowspan=1|[[File:CreditRating SP BBB.png|center|100px|frameless]]
<center>{{color|khaki|BBB}}</center>
|rowspan=1|[[File:CreditRating GER 7.png|center|100px|frameless]]
<center>{{color|khaki|Keine Besorgnis (7)}}</center>
|rowspan=1|[[File:CreditRating JAP Intermediate.png|center|100px|frameless]]
<center>{{color|khaki|Seijyo-saki S-4}}</center>
|rowspan=2|Debt Ceiling: {{color|palegreen|+175.00%}}

Interest Rates: {{color|yellow|+3.30%}}

Effect of debt on Interest Rates: {{color|palegreen|-40.00%}}

Stability: {{color|palegreen|5.00%}}

Effect of debt on GDP Growth: {{color|lightcoral|+5.00%}}
|-
|colspan=3|Countries with a {{color|khaki|Intermediate}} credit rating are often somewhat unstable, yet have large or efficient economies, enableing them to issue debt without much trouble.
|-
|rowspan=2 align="center"|'''{{color|khaki|Acceptable}}'''
|rowspan=1|[[File:CreditRating SP BB.png|center|100px|frameless]]
<center>{{color|khaki|BB}}</center>
|rowspan=1|[[File:CreditRating GER 6.png|center|100px|frameless]]
<center>{{color|khaki|Vorsicht (6)}}</center>
|rowspan=1|[[File:CreditRating JAP Acceptable.png|center|100px|frameless]]
<center>{{color|khaki|Yo-Chui Saki YC-1}}</center>
|rowspan=2|Debt Ceiling: {{color|palegreen|+150.00%}}

Interest Rates: {{color|yellow|+4.70%}}

Effect of debt on Interest Rates: {{color|palegreen|-20.00%}}

Stability: {{color|palegreen|5.00%}}

Effect of debt on GDP Growth: {{color|yellow|0.00%}}
|-
|colspan=3|Countries with a {{color|khaki|Acceptable}} credit rating enjoy some confidence, but are on a shorter leash than other countries.
|-
|rowspan=2 align="center"|'''{{color|khaki|Fair}}'''
|rowspan=1|[[File:CreditRating SP B.png|center|100px|frameless]]
<center>{{color|khaki|B}}</center>
|rowspan=1|[[File:CreditRating GER 5.png|center|100px|frameless]]
<center>{{color|khaki|Vorsicht (5)}}</center>
|rowspan=1|[[File:CreditRating JAP Fair.png|center|100px|frameless]]
<center>{{color|khaki|Yo-Chui Saki YC-2}}</center>
|rowspan=2|Debt Ceiling: {{color|palegreen|+140.00%}}

Interest Rates: {{color|yellow|+6.50%}}

Effect of debt on Interest Rates: {{color|yellow|0.00%}}

Stability: {{color|yellow|0.00%}}

Effect of debt on GDP Growth: {{color|palegreen|-10.00%}}
|-
|colspan=3|Countries with a {{color|khaki|Fair}} credit rating are the last countries that are considered viable investments. Nevertheless, they are able to find some buyers for their debt.
|-
|rowspan=2 align="center"|'''{{color|darkorange|Mediocre}}'''
|rowspan=1|[[File:CreditRating SP CCC.png|center|100px|frameless]]
<center>{{color|darkorange|CCC}}</center>
|rowspan=1|[[File:CreditRating GER 4.png|center|100px|frameless]]
<center>{{color|darkorange|Große Vorsicht (4)}}</center>
|rowspan=1|[[File:CreditRating JAP Mediocre.png|center|100px|frameless]]
<center>{{color|darkorange|Yo-Kanri Saki YK}}</center>
|rowspan=2|Debt Ceiling: {{color|palegreen|+130.00%}}

Interest Rates: {{color|yellow|+8.70%}}

Effect of debt on Interest Rates: {{color|lightcoral|20.00%}}

Stability: {{color|lightcoral|-5.00%}}

Effect of debt on GDP Growth: {{color|palegreen|-20.00%}}
|-
|colspan=3|Countries with a {{color|darkorange|Mediocre}} credit rating have made some strides towards fiscal responsibility, but are still not considered to be viable in the long-term.
|-
|rowspan=2 align="center"|'''{{color|darkorange|Poor}}'''
|rowspan=1|[[File:CreditRating SP CC.png|center|100px|frameless]]
<center>{{color|darkorange|CC}}</center>
|rowspan=1|[[File:CreditRating GER 3.png|center|100px|frameless]]
<center>{{color|darkorange|Gefährdet (3)}}</center>
|rowspan=1|[[File:CreditRating JAP Poor.png|center|100px|frameless]]
<center>{{color|darkorange|Hatan Kenen Saki HK}}</center>
|rowspan=2|Debt Ceiling: {{color|palegreen|+120.00%}}

Interest Rates: {{color|yellow|+11.30%}}

Effect of debt on Interest Rates: {{color|lightcoral|35.00%}}

Stability: {{color|lightcoral|-7.50%}}

Effect of debt on GDP Growth: {{color|palegreen|-30.00%}}
|-
|colspan=3|Countries with a {{color|darkorange|Poor}} credit rating are considered to be highly risky investments, and are limited iin the amount of debt they can issue.
|-
|rowspan=2 align="center"|'''{{color|darkorange|Terrible}}'''
|rowspan=1|[[File:CreditRating SP C.png|center|100px|frameless]]
<center>{{color|darkorange|C}}</center>
|rowspan=1|[[File:CreditRating GER 2.png|center|100px|frameless]]
<center>{{color|darkorange|Drohende Insolvenz (2)}}</center>
|rowspan=1|[[File:CreditRating JAP Terrible.png|center|100px|frameless]]
<center>{{color|darkorange|Jisshitsu-Hatan Saki JH}}</center>
|rowspan=2|Debt Ceiling: {{color|palegreen|+110.00%}}

Interest Rates: {{color|yellow|+14.30%}}

Effect of debt on Interest Rates: {{color|lightcoral|50.00%}}

Stability: {{color|lightcoral|-10.00%}}

Effect of debt on GDP Growth: {{color|palegreen|-40.00%}}
|-
|colspan=3|Countries with a {{color|darkorange|Terrible}} credit rating are one step above default and have severe difficulty finding buyers for their debt.
|-
|rowspan=2 align="center"|'''{{color|lightcoral|Junk}}'''
|rowspan=1|[[File:CreditRating SP D.png|center|100px|frameless]]
<center>{{color|lightcoral|D (DEFAULT)}}</center>
|rowspan=1|[[File:CreditRating GER 1.png|center|100px|frameless]]
<center>{{color|lightcoral|Insolvenz (1) (DEFAULT)}}</center>
|rowspan=1|[[File:CreditRating JAP Junk.png|center|100px|frameless]]
<center>{{color|lightcoral|Hatan-saki D (DEFAULT)}}</center>
|rowspan=2|Debt Ceiling: {{color|palegreen|+100.00%}}

Interest Rates: {{color|yellow|+25.00%}}

Effect of debt on Interest Rates: {{color|lightcoral|100.00%}}

Stability: {{color|lightcoral|-20.00%}}

Effect of debt on GDP Growth: {{color|palegreen|-50.00%}}
|-
|colspan=3|Countries with a {{color|lightcoral|Junk}} credit rating are in {{color|lightcoral|DEFAULT}} and must negotiate with their creditors, mend their finances, and control their spending before they can exit sovereign default.
|-
|}

==Economy Types==
A country's economy type can give bonuses but is currently largely a flavor mechanic. It can only be changed through events/focuses and not manually by the player.
===Corporatism===
{| class="wikitable"
|+
|-
!Type
!Description
!Effects
|-
|[[File:GFX Econ Type Corporatism.png|center]]
'''Corporatism'''
|Corporatism is an economic system which aims to organize the state and society as a whole into corporate groups, believing that it is the best way to achieve an efficient and strong economy. Deriving from the ideas of syndicalist thinkers such as Sorel, it also seeks to promote class cooperation between capital and labor instead of class struggle, and posits that a good relationship between the boss and the worker is the key to the machine of the state being well-oiled. Asking for total devotion toward the state, corporatism is commonly found in fascist and dictatorial regimes. Important to note, however, is that such a system is distinct from a corporatocracy, in which the lines between the state and the corporations are blurred.
|{{color|palegreen|+10.00%}} {{color|yellow|Consumer Goods Production Factor}}
{{color|palegreen|+0.05}} {{color|yellow|GDP Growth Multiplier}}
|-
|[[File:GFX Econ Subtype Anarchic.png|center]]
''''''
|
|
|-
|}
===Capitalism===
{| class="wikitable"
|+
|-
!Type
!Description
!Effects
|-
|[[File:GFX Econ Type Capitalism.png|center]]
'''Free Market Capitalism'''
|Free market capitalism is an economic system where private enterprises and businesses are free to operate with few or no restrictions from the government. To elaborate, it means that things such as prices, costs, and wages are regulated by participants in the market, such as the buyers and the sellers: as such, government oversight and regulation are minimized. Popular among market liberals of all stripes, it has become one of the most in-use systems around the world.
|{{color|palegreen|+5.00%}} {{color|yellow|Factory Output}}

{{color|palegreen|+5.00%}} {{color|yellow|Dockyard Output}}

{{color|palegreen|+5.00%}} {{color|yellow|Construction Speed}}

{{color|palegreen|+10.00%}} {{color|yellow|Consumer Goods Production Factor}}

{{color|palegreen|+0.10}} {{color|yellow|GDP Growth Multiplier}}
|-
|[[File:GFX Econ Subtype Anarchic.png|center]]
''''''
|
|
|-
|}
===Planned===
{| class="wikitable"
|+
|-
!Type
!Description
!Effects
|-
|[[File:GFX Econ Type Planned.png|center]]
'''Planned Economy'''
|A planned economy, or command economy, is an economic system in which the entirety of economic output and growth is planned in advance to account for the needs of the population and of the country as a whole. Such a planification can be either centralized or decentralized, and can be decided either by a dedicated council of experts, or by the people in a participatory manner.
|{{color|palegreen|+10.00%}} {{color|yellow|Factory Output}}

{{color|palegreen|+10.00%}} {{color|yellow|Dockyard Output}}

{{color|palegreen|+10.00%}} {{color|yellow|Construction Speed}}
|-
|[[File:GFX Econ Subtype Anarchic.png|center]]
''''''
|
|
|-
|}
===Other===
{| class="wikitable"
|+
|-
!Type
!Description
!Effects
|-
|[[File:GFX Econ Subtype Anarchic.png|center]]
'''Anarchic'''
|In an anarchic territory, the state either doesn't exist, or is mainly influenced by small, local communities or villages. Large-scale monetary transactions are sparse, and there is no central authority or formal central bank to speak of. Such states of anarchy are generally attained after large-scale catastrophes, like wars or natural disasters.
|{{color|palegreen|+10.00%}} {{color|yellow|Factory Output}}

{{color|palegreen|+10.00%}} {{color|yellow|Dockyard Output}}

{{color|palegreen|+10.00%}} {{color|yellow|Construction Speed}}
|-
|[[File:GFX Econ Subtype Banditry.png|center]]
'''Banditry'''
|In a system of Banditry, the economy is centered around theft and extortion of the common people by one or more groups of bandits and pillagers. Relying on the stolen wealth of others, those bandits see theft and extortion as the best way to enrich themselves off the backs of nearby countries, or in the most extreme cases, of people inside their very own. Such a system can be found in war-torn and unstable countries, as those conditions are often necessary for the bandits to take power in the first place.
|{{color|palegreen|+10.00%}} {{color|yellow|Factory Output}}

{{color|palegreen|+10.00%}} {{color|yellow|Dockyard Output}}

{{color|palegreen|+10.00%}} {{color|yellow|Construction Speed}}
|-
|}

Latest revision as of 22:21, 23 June 2024

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