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Gains from trade is maximized when traders specialize in their most productive work. When profit is reinvested, it raises the standard of living. - Econ 101 If
by whytaka 9y ago
Gains from trade is maximized when traders specialize in their most productive work. When profit is reinvested, it raises the standard of living.
- Econ 101
If for any reason, you truly value your neighbourhood chicken farmer Bob's livelihood though, there's no better means of buying Bob's well-being than giving money straight to Bob.
You would have to reimagine the idea of "a high standard of living" to include the comfort of knowing that Bob's well-being is sustained.
Of course it would be at the cost of excluding the welfare of people outside of your monkeysphere.
- koverstreet 9y agoYou might be taking spherical cows too far.
- tspike 9y agoNegative externalities are rarely fully accounted for with this model. If you ignore the non monetary impacts, specialization wins every time.