Thought for Sunday

[Mwalimu-G]

Think about this

 

[Mishale]

how is it dangerous?
this is the narrative that the rich will always use to protect themselves.

but by the end of the day, i will always say, if you arent ready to lose it all today for a better tommorow, dont complain about today. make the best of today and let tomorrow worry about itself.

 

[Doc oga]

The truth is that nobody should be poor. Poverty is artificial Ever seen a poor lion, dog, chicken na Hawana a developed akili Kama ya mtu.

 

[Mwalimu-G]

The truth is that nobody should be poor. Poverty is artificial Ever seen a poor lion, dog, chicken na Hawana a developed akili Kama ya mtu.

On the contrary, there will always be poor people as long as humans will continue to have an infinite number of needs against scarce resources. Unlike the animals you mention that only need bottoms tier needs (on the Abraham Maslow's hierarchy), humans tend to crave for more and as a result the weak always lose out to the strong, leaving them poor.
What you should be rooting for is that there should be mechanisms for reducing the gap between the rich and poor and also ensuring there is justice in the competition. The mechanisms should include artificial fiscal engineering (safety nets, taxation, seed capitalization etc).

 

[Doc oga]

On the contrary, there will always be poor people as long as humans will continue to have an infinite number of needs against scarce resources. Unlike the animals you mention that only need bottoms tier needs (on the Abraham Maslow's hierarchy), humans tend to crave for more and as a result the weak always lose out to the strong, leaving them poor.
What you should be rooting for is that there should be mechanisms for reducing the gap between the rich and poor and also ensuring there is justice in the competition. The mechanisms should include artificial fiscal engineering (safety nets, taxation, seed capitalization etc).

My biggest question is what are these scarce resources and are they really scarce or is it an artificial manipulation?

 

[Mwalimu-G]

My biggest question is what are these scarce resources and are they really scarce or is it an artificial manipulation?

If you notice virtually everything except air that you need to stay alive is monetized. To socialize and to develop yourself you need to part with some value, usually money. We obviously do not have enough money to buy everything we'd want. We produce some goods like say milk. When it is scarce consumers pay more because they are competing for the little supply. The higher prices motivate producers to produce more, the oversupply reduces prices as the producers try to dispose. The low prices demotivate producers which makes the supply low (scarce) again. It is almost impossible to attain an equilibrium between supply and demand.

"The resources that we value—time, money, labor, tools, land, and raw materials—exist in limited supply. There are simply never enough resources to meet all our needs and desires. This condition is known as scarcity. At any moment in time, there is a finite amount of resources available. "

Understanding Economics and Scarcity | Microeconomics

courses.lumenlearning.com

.

 

[It's Me Scumbag]

If you notice virtually everything except air that you need to stay alive, to socialize and to develop self is monetized. We obviously do not have enough money to buy everything we'd want. We produce some goods like say milk. When it is scarce consumers pay more because they are competing for the little supply. The higher prices motivate producers to produce more, the oversupply reduces prices as the producers try to dispose. The low prices demotivates producers which makes the supply low (scarce) again. It is almost impossible to attain an equilibrium between supply and demand.

"The resources that we value—time, money, labor, tools, land, and raw materials—exist in limited supply. There are simply never enough resources to meet all our needs and desires. This condition is known as scarcity. At any moment in time, there is a finite amount of resources available. "

Understanding Economics and Scarcity | Microeconomics

courses.lumenlearning.com

.

A lesson I learnt in Form one when I was introduced to Bussiness Education... @Doc oga kwani watu wengine walisoma shule gani?

 

[Doc oga]

A lesson I learnt in Form one when I was introduced to Bussiness Education... @Doc oga kwani watu wengine walisoma shule gani?

If you notice virtually everything except air that you need to stay alive, to socialize and to develop self is monetized. We obviously do not have enough money to buy everything we'd want. We produce some goods like say milk. When it is scarce consumers pay more because they are competing for the little supply. The higher prices motivate producers to produce more, the oversupply reduces prices as the producers try to dispose. The low prices demotivates producers which makes the supply low (scarce) again. It is almost impossible to attain an equilibrium between supply and demand.

"The resources that we value—time, money, labor, tools, land, and raw materials—exist in limited supply. There are simply never enough resources to meet all our needs and desires. This condition is known as scarcity. At any moment in time, there is a finite amount of resources available. "

Understanding Economics and Scarcity | Microeconomics

courses.lumenlearning.com

.

Hizi zote nazielewa but I am simply questioning what I was taught.

 

[Mwalimu-G]

Hizi zote nazielewa but I am simply questioning what I was taught.

Kama unaelewa what are you questioning?

 

[DeepInYourMind]

how is it dangerous?
this is the narrative that the rich will always use to protect themselves.

but by the end of the day, i will always say, if you arent ready to lose it all today for a better tommorow, dont complain about today. make the best of today and let tomorrow worry about itself.

I think the problem in this instance is not the rich, but the political class. There are those who get rich by legit hard work

 

[Doc oga]

Kama unaelewa what are you questioning?

Do they work? Who are the perennial losers and winners in that theory?

 

[DeepInYourMind]

What you should be rooting for is that there should be mechanisms for reducing the gap between the rich and poor and also ensuring there is justice in the competition. The mechanisms should include artificial fiscal engineering (safety nets, taxation, seed capitalization etc).

I think the goal should not be reducing the gap between the rich and the poor, because that could mean taking more from the rich to bring them closer to the poor (no good for anyone).

The goal should be providing instruments and opportunities for those who are poor and want to become richer to be able to do so. If my neighbour works twice as hard as I do and is therefore richer than I am, we should not try to artificially pull them down to my level

 

[Kamau wa Kíríro]

On the contrary, there will always be poor people as long as humans will continue to have an infinite number of needs against scarce resources. Unlike the animals you mention that only need bottoms tier needs (on the Abraham Maslow's hierarchy), humans tend to crave for more and as a result the weak always lose out to the strong, leaving them poor.
What you should be rooting for is that there should be mechanisms for reducing the gap between the rich and poor and also ensuring there is justice in the competition. The mechanisms should include artificial fiscal engineering (safety nets, taxation, seed capitalization etc).

I am all for social democracy...

 

[Kamau wa Kíríro]

If you notice virtually everything except air that you need to stay alive is monetized. To socialize and to develop yourself you need to part with some value, usually money. We obviously do not have enough money to buy everything we'd want. We produce some goods like say milk. When it is scarce consumers pay more because they are competing for the little supply. The higher prices motivate producers to produce more, the oversupply reduces prices as the producers try to dispose. The low prices demotivate producers which makes the supply low (scarce) again. It is almost impossible to attain an equilibrium between supply and demand.

"The resources that we value—time, money, labor, tools, land, and raw materials—exist in limited supply. There are simply never enough resources to meet all our needs and desires. This condition is known as scarcity. At any moment in time, there is a finite amount of resources available. "

Understanding Economics and Scarcity | Microeconomics

courses.lumenlearning.com

.

A cliche for you..... There's enough for everyone's needs but not nearly enough for a few people's greed

 

[Kamau wa Kíríro]

Kama unaelewa what are you questioning?

He's vouching for a paradigm shift...

 

[Kamau wa Kíríro]

I think the goal should not be reducing the gap between the rich and the poor, because that could mean taking more from the rich to bring them closer to the poor (no good for anyone).

The goal should be providing instruments and opportunities for those who are poor and want to become richer to be able to do so. If my neighbour works twice as hard as I do and is therefore richer than I am, we should not try to artificially pull them down to my level

An equitable society is ideal where that gap is not a rift valley. Case in point; the Scandinavian countries

 

[Mwalimu-G]

The goal should be providing instruments and opportunities for those who are poor and want to become richer to be able to do so.

These pro-poor programs (poverty alleviation measures) cost money that has to be initially taken from the rich. When they work they pull the majority to at least the lower middle class from the bottom.
Edit.- This may bring more people into the tax bracket enabling the state to improve the tax burden spread, hence lower taxes for all. Theoretically at least.

 

[DeepInYourMind]

An equitable society is ideal where that gap is not a rift valley. Case in point; the Scandinavian countries

I think a gap as wide as the rift valley, if exists based on equal opportunity, means there's an potential for high productivity for those who choose that route, which is a good thing. There's a reason America has had a track record of technological advancements even compared to Europe, with the brightest minds like Elon Musk emigrating there (how much longer this lasts remains to be seen).

I think the focus should be on equity of opportunity, rather than equity of returns, so that the highly productive are motivated to put in more

 

[Mishale]

I think a gap as wide as the rift valley, if exists based on equal opportunity, means there's an potential for high productivity for those who choose that route, which is a good thing. There's a reason America has had a track record of technological advancements even compared to Europe, with the brightest minds like Elon Musk emigrating there (how much longer this lasts remains to be seen).

I think the focus should be on equity of opportunity, rather than equity of returns, so that the highly productive are motivated to put in more

so is Norway a case of equity of opportunity or equity of returns?

and are those who work hard in America success due to their hard work or cheap labour from external countries and "protection" that comes from America?

 

[DeepInYourMind]

These pro-poor programs (poverty alleviation measures) cost money that has to be initially taken from the rich. When they work they pull the majority to at least the lower middle class from the bottom.
Edit.- This may bring more people into the tax bracket enabling the state to improve the tax burden spread, hence lower taxes for all. Theoretically at least.

This is assuming the state is a rational agent able to make long-term decisions, which is not the case. The state is made of people, who have selfish and conflicting short term interests.

The best way I've seen so far to balance selfish and conflicting interests is a free market economy, where give and take tend work efficiently.