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by jimmywanger
3148 days ago
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The alternative is government mandated poverty. The government hardly ever creates wealth. They can create the conditions for wealth creation by getting the heck out of the way. To be a bit dramatic, Venezuela, PRK, Sudan, and Cuba all have incredibly low wealth inequality. Except for the rich and corrupt, everybody else has just about the same as everybody else, which is nothing, based on government policies. Hong Kong is cutthroat with high levels of inequality, but it's also an engine of economic growth. Would you really rather like in Sub Saharan Africa than Hong Kong? EDIT:
And massive wealth and capital concentration brought us Amazon and Google. In exchange for newly minted millionaires being "equal" to us, would you rather live in a world without those technologies - next day shipping and Google Maps and Search? |
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Yes, we're aware that's how it works in shitty novels about trains from the 1950's.
Here in the real world, every single technological innovation in the iPhone was created by the US Government, or with the assistance of US government-funded basic research. This book breaks the whole thing down: https://en.wikipedia.org/wiki/The_Entrepreneurial_State
Google Maps is a particularly terrible example. It wouldn't exist without GPS, a technology invented by the US government.
Hong Kong's government puts billions of dollars a year into technology research. That's not a good example, either. Furthermore, HK has lower income inequality than Nigeria, Rwanda, Mozambique, Guinea-Bissau, Madagascar, Burundi, The Gambia, Swaziland, Botswana, CAR, Sierra Leone and Namibia: https://en.wikipedia.org/wiki/List_of_countries_by_income_eq... . So your statement "everybody else has just about the same as everybody else" in sub-Saharan Africa is total bullshit.
Japan and Scandinavia have relatively low rates of income inequality (especially compared to sub-Saharan Africa). Are you saying those countries are less innovative than Namibia (highest income inequality in the world)?
Finally, the idea that the sole difference between "Sub Saharan Africa" (a region that encapsulates over a billion people and over 40 countries which you regard as a monolith) and Hong Kong is due to "government policies" is childishly ignorant. Africa is not a country.