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Global wealth inequality- 62 people are now as wealthy as world's 3,6 billion poorest
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BortimusPrime Offline
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RE: Global wealth inequality- 62 people are now as wealthy as world's 3,6 billion poorest
Here's why income inequality isn't really an issue. Can Warren Buffet personally buy up all the food in the country and starve us to death? Hypothetically yes, but practically no. He has no incentive to, and even if he tried the combination of people producing extra food due to increased demand and just raiding his food stockpile would make it fail. Essentially Warren Buffet can only consume as much as any other man, plus say a few big houses and some jet fuel.

If you were to take all of these billionaires' wealth and give it all away to the poorest 4 billion people, nothing would effectively change for those poor people. If you're Ndugu in Africa and you have one goat, and suddenly you have two goats due to wealth redistribution, you'll rapidly find that everything at the local store costs twice as much, and you need to sell twice as much goat milk to make ends meet. The productive capacity of the world is rather divorced from the amount of fiat currency in existence.
01-21-2016 02:41 PM
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RE: - zero1 - 01-21-2016, 07:33 PM
! - DjembaDjemba - 01-21-2016, 12:11 PM
RE: Global wealth inequality - poutsara - 01-21-2016, 11:24 PM
RE: Global wealth inequality- 62 people are now as wealthy as world's 3,6 billion poorest - BortimusPrime - 01-21-2016 02:41 PM

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