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The point I believe you are missing is that this will not meet basic needs of others. If you distribute the excess wealth, you will create a lot of inflation b
by antaviana 5y ago
The point I believe you are missing is that this will not meet basic needs of others.
If you distribute the excess wealth, you will create a lot of inflation because if people have twice the money they will be prone to pay a twice bigger rent or a twice bigger restaurant check, or twice the money for the same land plot.
If you decide to somehow destroy the excess wealth (for example, burning cash or the houses they don't need), you will shrink a bit the economy by creating some job losses for those today working on superfluous activities of the rich such as yatch cleaning.
- AnIdiotOnTheNet 5y ago> If you distribute the excess wealth, you will create a lot of inflation because if people have twice the money they will be prone to pay a twice bigger rent or a twice bigger restaurant check, or twice the money for the same land plot. Ah, I see! So what you're saying is, if we tax the poor instead, that'll deflate the currency and make everyone richer!
- JoeAltmaier 5y agoThat's such a simplistic view of economics, as to not bear the slightest examination. E.g. the free market depends entirely upon the amount of money people have? And nothing to do with supply/demand and the elasticity of the market? In a more nuanced view demand creates supply, efficiencies of scale reduce cost, and everything is cheaper. Folks love to throw out the "More money means prices go up!" as if it's a truism.
- AnIdiotOnTheNet 5y agoMost people, at least on this site, seem to have a severe Dunning-Kruger effect going on when it comes to economics. It's like they took Econ 101 and didn't realize it's an intro course with simplified models.