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by PaulDavisThe1st
1792 days ago
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If I literally stole 1 trillion dollars from the richest Americans and gave it to the poorest 20 million Americans, I'd have substantial impact on the standard of living (both for them, and for the country on average). No increase in productivity required. |
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Think this through; is Somalia poor because their government doesn't give poor people enough money to consume?
No. Somalia is poor because they produce very little right now (for a variety of reasons). If you look at countries that have recently increased their standard of living on a massive scale, such as China, they have done so not because they consumed their way there. A huge amount of investment into productivity was undertaken.