Instantly.Suppose all wealth were confiscated tomorrow and re-distributed equally the day after. How long would it take for inequality to occur aga...
Humans are not equal,
Their talents are not evenly distributed,
Their motivations vary widely,
Their abilities and shortcomings come in an infinity of combinations,
Their geographic, political, cultural, economic, social, familial, tribal, emotional and intellectual contexts are different,
They exist at every conceivable level of maturity and wisdom,
...really, there is no end to the list.
Given an identical amount of wealth, still they would be unequal.
Money can not produce equality, because everybody is not exactly the same.
I have been very poor (like the projects, but without the crime), and I have been middle class (can't afford to bag everything and move to Tahiti). I know many rich people (worth $50mln+).
I have known someone poor, who got a $90,000.00+ inheritance, and spent it all in less than 9 months, straight back to broke. She spurned the help of a dozen friends and relatives who knew how to save money and budget spending.
It just doesn't work that way.
Thursday 28 August 2014
Suppose all wealth were confiscated tomorrow and re-distributed equally the day after. How long would it take for inequality to occur aga...
Answer by Bo Shuubz:
Subscribe to:
Post Comments (Atom)
I don't agree with this. In time, things would get back to an equilibrium state. However, the outcomes wouldn't be the same. People who are very rich who suddenly have much less may now know how to make that money back because they inherited their vast wealth. They might have an edge because they have the finest education money can buy.
ReplyDeleteOn the other hand there are probably very poor people with ingenuity and drive that currently lack capital to realize their dreams. With additional money they might find a way to make more.
One example of a person who inherited $90K and spent it foolishly is just that; a single example. But it does not predict behavior of a large group of people.
Sentence should have been: People who are very rich who suddenly have much less may NOT know how to make that money back because they inherited their vast wealth.
ReplyDelete