A video on economic balance that I received a while back. I thought it interesting and today is a good day to pass it on.
http://www.upworthy.com/9-out-of-10-americans-are-completely-wrong-about-this-mind-blowing-fact-2?g=3
Have a good day.
4 thoughts on “Economics”
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Ug. There is so much wrong in this video, it is difficult to watch. If people believe this is the answer to financial inequality, we’re doomed to more and more inequality. Here’s a rebuttal: http://www.youtube.com/watch?v=wcsvAT4JT-g.
Good video. Thanks. I appreciate his definitions. It makes sense – the difference between income and wealth. His point that we as individuals go through periods of poverty is well taken and true, though that is relative. Poverty in America looks different than that in 3rd world countries. But there is still systematic poverty and poverty so severe that people suffer, even lose their lives because of it. Imposed poverty or systems that make it nearly impossible for people to pull themselves up. There is the issue of greed and how it effects those with wealth and their willingness to use their gifts in some way for the good of society. How does a society prevent these from harming others? It isn’t simple, for sure. In my thinking these are moral issues, not so much how wealth is distributed but how people use wealth and power.
I often remember my experience with Common Hope – the way they constructed their programs to empower the poor. It required so much more engagement by the system, but they really changed lives and families. I think our (American) system of trying to help those in poverty does a poor job of “giving a hand up”.
But the video you posted makes the argument that socialist economies would actually HELP people. They don’t. They never have.
The only economies that have soared in history have been free markets. Take the freedom to build wealth away–even for the sake of helping the poor–has never helped the poor.
It helps the rich, though. The less free the economy, the richer the rich get. And poor people stay poor.
I respect your studies on this issue and I pay attention to new information, including this video that you sent, but I am still not quite with you. I agree that free markets should work, but I see the abuses and greed and harm done to innocent people go unchecked and that infuriates me.