Tuesday, March 2, 2021

Mutual Understanding

 The right-wing view of economic systems:
* With welfare: Poor people make $20,000 today, and their earnings go up by 3% yearly
* Without welfare: Poor people make $10,000 today, and their earnings go up by 8% yearly


So welfare is making things better in the short term, but substantially worse in the long term, by depressing growth by taking money away from more productive enterprises; the right-wing view of economic systems is that welfare is eating the seeds you should be planting for tomorrow.

The left-wing view of economic systems
* With welfare: Poor people make $20,000 today, and their earnings go up by 8% yearly
* Without welfare: Poor people make $10,000 today, and their earnings go up by 3% yearly


So welfare is making things better in both the short and long term; by investing in people now, they can become more productive members of society tomorrow; the left-wing view of economic systems is that the only reason not to engage in welfare is that you hate poor people.

 

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If you think only one of these views is correct, you have not been paying attention.

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