cause if everyone was getting 10k USD per day and was rich the value of money would be gone ofc
we have people working fastfood jobs or driving taxis barely making ends meet, could the world still function if everyone lived a comfortable life? maybe everyone was at least middle class?
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Perfect equality, where everyone has the same size slice of the economic pie, demands: A) that people *choose* to be doing whatever they are doing, B) the numbers of people who *want* to do any particular job is the number of people that *need* to be doing that particular job, and C) people don’t expect higher pay than someone else because they consider what they are doing as more valuable than what someone else is doing.
A doctor is a doctor because they *want* to be a doctor, and there are as many people who want to be doctors as *need* to be doctors; a fast food worker is a fast food worker because they *want* to be a fast food worker, and there are as many people who *want* to be fast food workers as *need* to be fast food workers. And everyone, doctor or fast food worker, is paid the same, and enjoys the same standard of living.
I think you can begin to see the problem.
It’s a fair question, and you are correct in that the dollar would become worthless pretty quickly if the govt issued $10k a day to every citizen. Even if the inflation rate was constant (vs algorithmic) it would still be so bad that businesses would know its worth would be a fraction tomorrow of what it is today, so they would very quickly stop accepting payments in it. The economy would halt (crash) until a suitable alternative currency could replace it.
If they did give away that much to people, they would have to recoup an equal amount from the rich every day to balance it out. This is termed “redistribution of wealth”. While unpopular for several reasons, I personally do not think this would solve anything in the long term because that money would simply trickle back up to the wealthy again anyway. What I mean is that the economy and society are built in such a way that money naturally travels upward until it is aggregated by those who own the most successful businesses. So while redistributing wealth might solve a short term need, it would need to be sustained indefinitely to “work”.
Wealth is relative. Every dollar we earn does in fact come at someone else’s expense. By virtue of this fact, that means someone must always be at the top, and someone at the bottom. We cannot all be equally wealthy. As callous as it sounds, that means poverty is just a fact. Some people are simply going to be poor, and I do not know how to fix that fact, other than to create social programs that address their immediate and basic needs until they can find a way to make their own living. But it’s impossible to put a percentage on it.
No we don’t, there will always be people who are better off but the economy isn’t a pie that has to be shared by everyone. Standard of living has increased tremendously through capitalism, innovation and productivity grows the pie
By historical standards almost everyone in western countries are rich.
Poor countries have lots of actually broke people and it doesn’t do them any good.
Society doesn’t need broke people.
If everyone got 10k a month in dollars the only result would be inflation, but if 10j of actual wealth was being produced then it would make everyone rich.
Absolutely not. That is a communist trope. We each contribute to society and and reap the rewards of our contribution.
Over time every product’s cost will reach its marginal value. What I’m trying to say is the most valuable things are always the newest ones. “Working for a living” was invented thousands of years ago. You can’t expect to make a lot of money working for others. It’s old hat.
Find something you can do that no one has thought of before. Or something few know how to do.
It’s not a matter of need just a matter of reality. The market value of some work is simply not as high as others. Artificially inflating this value or compensating through wealth redistribution has other consequences. There is no perfect way to organize something as complex as a modern, developed economy.
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