4 ms·
Reducing the cost of manufactured goods helps the poor as much as the rich. For instance: Reducing the cost of farm equipment could enable poor rural farmers t
by seizethecheese 10y ago
Reducing the cost of manufactured goods helps the poor as much as the rich.
For instance: Reducing the cost of farm equipment could enable poor rural farmers to rise above subsistence farming. I could think of countless examples.
- seizethecheese 10y agoIn fact, reducing the cost of manufactured goods helps the poor more than the rich in some sense, since a marginal reduction in cost of living for them is much more impactful than for a rich person.
- roymurdock 10y agoThink about it from a revenue standpoint. It doesn't matter if your cost of living becomes 50% cheaper if you lose 100% of your income.
- seizethecheese 10y agoIf 10 people's cost of living drop 50%, then one drop of 100% of income would be acceptable.