2 years ago
KowoonJeong
in English · 5,728 Views
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We know how to end poverty. So why don't we? (by VOX)
This is a video explaining how to end poverty, which is "giving them money". This way is so-called about "minimum income" because the reason there are people in poverty is they don't have enough money, Therefore, the simplest way to help them is just give them money(cash) by raising minimum income. Then, why don't we? You can figure it out from this video by VOX Explain.
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From a financial standpoint, though, is this feasible? Or does this replace other welfare systems so that it becomes feasible?
@amog32 @yakwithalan I also can't tell if it could even be practical considering just how much rearrangement of a system that's been in place fo rquite some time.
Basic economics tends to quash the theory of "just giving people money quashes poverty". Wants and needs are limitless while resources few. The problems with pumping money into a minimum income include but are not limited to: 1. Devaluation of fiat money/increase of inflation 2. Worker fatigue (think voter fatigue not actually tired fatigue) 3. Mismanagement of money by it's owners 4. Dissolution of power (Power in political science terms is defined as one's ability to distribute limited resources on a large scale, having said that the dissolution of power causes anarchy. That doesn't mean minimum income will plug us into total dissolution of state, but it in a smaller, less-butterfly-effect way can cause more chaos) 5. State debt The list goes certainly.