Cash to the poor: Giving money directly works surprisingly well
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Re: Cash to the poor: Giving money directly works surprisingly well
#2As a matter of fact, society has not a single valid reason to allow concentration of excessive wealth on some kind of restricted group or "elite" (as, by the way, also promoted erroneously by the idea of the "American Dream"). Here are a few facts to explain that this concept is not sane at all:
- Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating jobs, etc.), you need to make money circulate as much as possible (which is not what rich people usually do).
- Excessive wealth ends up being used for corruption (famous example: the Koch brothers), simply because it can. You can not get rid of corruption without getting rid of excessive wealth concentration.
- Excessive wealth could "morally"/"ethically" only be justified by the existence of "really free will" (a concept which we can never reasonably take as a basis, given the fact that this concept is of religious nature, not rational thinking): Free will -> free decision -> merit of the better decision -> excessive wealth. As noted, this is how society excuses the existence of excessively rich people, and it's completely flawed and wrong.
- Excessive wealth will always has the tendency to become even more excessive: it gives its holder an "unfair" advantage.
- A part of excessive wealth will always be used to protect the "unfair advantage", thus eliminating equality even more.
Re: Cash to the poor: Giving money directly works surprisingly well
#3Can't agree more. Myself and few friends are part of an "AAD" initiative where we visit deprived and apart from donating money for basic amenities, we take care of school fees and other things. We make sure to visit and actually engage with people other than third party donations. I am sure there are others who do the same.
Re: Cash to the poor: Giving money directly works surprisingly well
#4As a matter of fact, society has not a single valid reason to allow concentration of excessive wealth on some kind of restricted group or "elite" (as, by the way, also promoted erroneously by the idea of the "American Dream"). Here are a few facts to explain that this concept is not sane at all: - Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating…
> Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating jobs, etc.), you need to make money circulate as much as possible (which is not what rich people usually do).
Re: Cash to the poor: Giving money directly works surprisingly well
#5As a matter of fact, society has not a single valid reason to allow concentration of excessive wealth on some kind of restricted group or "elite" (as, by the way, also promoted erroneously by the idea of the "American Dream"). Here are a few facts to explain that this concept is not sane at all: - Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating…
> - Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating jobs, etc.), you need to make money circulate as much as possible (which is not what rich people usually do).
Another economical fallacy. When you put money in the bank, it's not standing there doing nothing. Savings are invested, loaned, used to create additional value. That's why banks want your money. If not, it would be a simple cost for them with no value to have it there, and they would charge you to keep your money instead of rewarding you for it.
> Excessive wealth will always has the tendency to become even more excessive: it gives its holder an "unfair" advantage.
Nature is unfair. We don't have the same genes. We don't share the same risks for illness or reproduction. We are not all top athletes. Stop the egalitarian bullshit. The only thing society should do is ensure everyone has the same rights in regard to the Law no matter how rich, how poor, how different you may be. Anything beyond is just a call for arms-race to make everyone the same in every aspect (and incidentally, to render everyone poor by default).
Re: Cash to the poor: Giving money directly works surprisingly well
#6It's also pretty interesting to look at the other side of this: the person giving away the money.
Michael Norton and a group of researchers (http://www.hbs.edu/faculty/Publication%20Files/10-012.pdf) at HBS have found that giving away money increases happiness, and that happier people give away more money. This logic is awesome.
Re: Cash to the poor: Giving money directly works surprisingly well
#7As a matter of fact, society has not a single valid reason to allow concentration of excessive wealth on some kind of restricted group or "elite" (as, by the way, also promoted erroneously by the idea of the "American Dream"). Here are a few facts to explain that this concept is not sane at all: - Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating…
> - Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating jobs, etc.), you need to make money circulate as much as possible (which is not what rich people usually do). Another economical fallacy. When you put money in the bank, it's not standing there doing nothing. Savings are invested, loaned, used to create additional value. That's why banks want y…
> Another economical fallacy.
What I meant is: this money is not used to promote consumption (which it were in the hands of poor people).
It's consumption (of services or products) that creates jobs.
Jobs get created because there is demand for something, not because some rich elite decides they can invest (because they have money). Investment does not depend on the existence of some rich elite. "Trickle down economics" was a joke created by a couple of rich people, to justify and protect the inequality.
Investment can easily be accomplished by "the crowd", and it should.
Re: Cash to the poor: Giving money directly works surprisingly well
#8As a matter of fact, society has not a single valid reason to allow concentration of excessive wealth on some kind of restricted group or "elite" (as, by the way, also promoted erroneously by the idea of the "American Dream"). Here are a few facts to explain that this concept is not sane at all: - Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating…
> - Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating jobs, etc.), you need to make money circulate as much as possible (which is not what rich people usually do). Another economical fallacy. When you put money in the bank, it's not standing there doing nothing. Savings are invested, loaned, used to create additional value. That's why banks want y…
So no one has the right to, for example, clean water?
Or is that just egalitarian bullshit that is going to make everyone the same in every aspect too?
Re: Cash to the poor: Giving money directly works surprisingly well
#9As a matter of fact, society has not a single valid reason to allow concentration of excessive wealth on some kind of restricted group or "elite" (as, by the way, also promoted erroneously by the idea of the "American Dream"). Here are a few facts to explain that this concept is not sane at all: - Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating…
> - Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating jobs, etc.), you need to make money circulate as much as possible (which is not what rich people usually do). Another economical fallacy. When you put money in the bank, it's not standing there doing nothing. Savings are invested, loaned, used to create additional value. That's why banks want y…
Nature may be unfair, but it is way more fair than modern wealth distribution.
The richest 300 people in the world have more money combined than the poorest 3 billion people. You don't see deviances like that in genetics.
Also, if you believe all Americans (also applies to all other nationalities) have the same rights in regard to the law, well I don't even know how to respond to that, because believing that would make you incredibly, desperately naive.
Re: Cash to the poor: Giving money directly works surprisingly well
#10Earlier quoted context omitted.
> - Excessive wealth is usually hoarded (in bank accounts), not used: But if you want the economy to work the most (creating jobs, etc.), you need to make money circulate as much as possible (which is not what rich people usually do). Another economical fallacy. When you put money in the bank, it's not standing there doing nothing. Savings are invested, loaned, used to create additional value. That's why banks want y…
So no one has the right to, for example, clean water? Or is that just egalitarian bullshit that is going to make everyone the same in every aspect too?
Governments exist to give everyone a basic set required services. I think even the biggest free market/ small government advocate would agree that access to clean drinking water is one of those services.