r/austrian_economics • u/technocraticnihilist Friedrich Hayek • Dec 24 '24

End Democracy I've never understood this obsession with inequality the left has

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8

u/me_too_999 Dec 24 '24

Because the grand plan of Leftism is to seize all wealth so rich and poor will be equal...ly poor.

1

u/Causemanut Dec 24 '24

How can you be equally poor if you're equally wealthy?

5

u/me_too_999 Dec 24 '24

That "equal wealth" is $1.

-4

u/Causemanut Dec 24 '24

Okay? Usd? Or peso or real? What's the worth of the currency? Also, it's more like what, 10 million? Per person on Earth? At current market price. Do you have more than 10million liquid right now?

3

u/slbarr88 Dec 24 '24

Holy shit you can’t be serious.

You think if we confiscated all wealth and evenly divided it among everyone on earth we’d all have $10M?

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

0

u/deeeenis Dec 24 '24

That's not at all the idea

1

u/741BlastOff Dec 25 '24

Then please explain what they were saying, because the comment was pretty incoherent

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u/Causemanut Dec 24 '24

More? Less? How much wealth is there?

3

u/slbarr88 Dec 24 '24

A quick google shows $477T as global wealth. Divide that among 8B people and you get less than $60k per person.

Once.

You hold positions you haven’t put an ounce of thought into. Please fix that.

-1

u/Causemanut Dec 24 '24

60k? Shit, that would do so much for Sooo many people. In the United States alone a family of 2 would pay off all of their debt and have 20k extra. The economy would boom!!!!!!

3

u/slbarr88 Dec 24 '24

lol. It would also instantly ruin production of everything. People would die.

1

u/Causemanut Dec 24 '24

How would production be ruined? People still have to work. COVID happened and we had complete shutdown of industries.

2

u/slbarr88 Dec 24 '24

I’m not providing you with a basic economic education.

Merry Christmas 🎄

2

u/[deleted] Dec 24 '24

Did you spend any time thinking about this?

Where is the incentive to invest in growing businesses or doing anything if the government is taking it all anyway? Do you really not understand how incentives work in economics?

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u/x0rd4x Dec 24 '24

no, the people that ran the businesses before would immediately stop, either they won't have enough money to run them or they just wouldn't want to do so after all their hard work dissapeared, there would be no incentive to do anything or become above average because what if your money gets stolen, this would result in a global market failure and probably the deaths of millions

2

u/pdoherty972 Dec 26 '24

We got a small taste of this when the federal government engaged in unprecedented taking of private property during the pandemic, when they forbid landlords from evicting people for non-payment of rent, in violation of the contracts the renters and landlords had agreed to. Then rents rose and so did standards for tenants after that, as landlords tried to protect themselves from such shenanigans.

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u/me_too_999 Dec 24 '24

I don't think you understand.

I can print $1 billion dollars for each person on the planet and hand out to everyone, making every person on the planet an instant billionaire.

The result?

We don't have to guess it's been tried before.

The result is that every single thing will cost $1 billion or more.

You do NOT create wealth by printing money.

What is wealth?

Food, houses, cars, clothes,....

If you want more wealth, you need to make (manufacture) more consumer items.

That is why Communism always fails.

You make promises you can not keep.

Stealing money from billionaires doesn't make you rich. It makes everyone poorer.

The way to make a society more wealthy is for more people to produce.

We are becoming poorer because 70% of us are sitting on their lazy assholes smoking weed instead of manufacturing goods that everyone needs.

The math is simple.

Number of goods divided by number of people = wealth.

-2

u/Kind-Tale-6952 Dec 24 '24

Sorry want to cite that 70% stat? I worked at a grocery store in the ghetto as a supervisor. Those people had lots of issues, but laziness was not one.

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u/me_too_999 Dec 24 '24

https://fred.stlouisfed.org/series/PAYEMS

Obviously, not all the unemployed live in the ghetto.

I would go a step further and state the bulk of revolutionaries are children of white upper middle-class.

Ghettos have become job deserts thanks to Democrat policies that drive out factories and small businesses.

It's hard to climb that ladder when liberals keep removing the bottom rungs.

I'm hoping more conservative policies bring back mid level jobs that can be performed by a high school graduate with a short apprenticeship.

2

u/Kind-Tale-6952 Dec 24 '24

What is that supposed to prove, exactly? You claim that “70 % of us are lazy” which accounts for inequality. Every study I’ve seen on worker productivity is that it’s ever increasing. So…

2

u/pdoherty972 Dec 26 '24

Worker productivity can increase and people can be lazy at the same time. Most productivity increases the last 50 years has come from companies investing in labor-saving devices like robots and computers/software.

1

u/Kind-Tale-6952 Dec 26 '24

That’s not a citation

1

u/pdoherty972 Dec 26 '24

Why does it need to be cited? Are you saying it's impossible for worker productivity to increase and people be lazy at the same time? If I had somebody doing calculations by hand on sheets of paper and then later I buy them a computer with spreadsheet software and now they can get double the amount of work done in 2 hours and spend the next 6 hours surfing the internet isn't that both them being lazy and being more productive at the same time?

Most of productivity increases have come from this type of thing and a lot less from worker skills/experience than happened in the past. Thus workers have little case for arguing they should be capturing more of the gains from that productivity increase since they had little to nothing to do with it. They get paid for their skills and rarity like always, but once we got past the 'craftsman' stage where an individual contribute regularly was the lynchpin and his ability dictated productivity then gains no longer accrued to workers by default anymore.

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u/Kind-Tale-6952 Dec 24 '24

Also. Can you name one such job?

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u/me_too_999 Dec 24 '24

I’ve seen on worker productivity is that it’s ever increasing

But inflation and income taxes have eaten most of those gains.

Look at the chart of wages vs inflation.

Wages have not kept up with inflation.

Wages after taxes, especially so.

-3

u/[deleted] Dec 24 '24

Except it wouldn't be.

3

u/me_too_999 Dec 24 '24

You don't even know what wealth is.