Lifestyle > Train of Thought
Do you understand Money, Debt, Inflation, and The Federal Reserve?
Chief:
--- Quote from: Shakur Abdul-Latif's Definition Of Hip-Hop..by -Infinite- on June 11, 2007, 05:50:16 AM ---There's some questions I've always had about economics and nobody has been able to give me a sufficient answer on them. I'll post them here.
1. Everyone always makes the a billionaire is wasting money on a billion dollar house when he could be feeding the poor. My question is.. Is the money really WASTED? Because doesn't that money go to the biulders of the home, the decorators, the people that gather the wood for the home, etc., etc., etc... and then those people go out and spend that money on other things, and on and on, the money keeps getting filtered back into the economy and other people's pockets and maybe someone that would have been poor and without a job instead has a job pouring concrete for the home?
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no it's not wasted, it is tayloring to every persons wants and needs.
why would someone work so hard to become a billionaire, not to live a billionaires life?
there would be no point, thats why communism would never work.
also dont forget a large portion of a billionaires income is taxed, that is transferred to the poorer sector of the economy.
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2. My other question is, why do black people talk about going to college as the solution for all their problems. Because, hypothetically, from an economic standpoint, just because everyone goes to colege doesn't mean they'll have jobs for all those people right?
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not only does education benefit the person in college, it also benefits society.
I think a graduate has higher chances of finding work than someone without an education.
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3. Even if every person in the country was motivated and wanted a job, a capatalist economy can not provide a job for every person, correct?
^^^ Anybody want to try and answer those questions for me.
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i cant think of any pure capitalist economies. but if a market is at 100% efficiency everyone can have a job, things like removing minimum wage would help.
here in Western Australia we have 2.5% unemployment, thats pretty damn close to full employment.
jeromechickenbone:
My bad homies, shit is fixed now.
Teddy Roosevelt:
--- Quote from: Shakur Abdul-Latif's Definition Of Hip-Hop..by -Infinite- on June 11, 2007, 05:50:16 AM ---1. Everyone always makes the a billionaire is wasting money on a billion dollar house when he could be feeding the poor. My question is.. Is the money really WASTED? Because doesn't that money go to the biulders of the home, the decorators, the people that gather the wood for the home, etc., etc., etc... and then those people go out and spend that money on other things, and on and on, the money keeps getting filtered back into the economy and other people's pockets and maybe someone that would have been poor and without a job instead has a job pouring concrete for the home?
--- End quote ---
Good point. And in a lot of cases this is the absolute truth. Plus the tax thing that Cheirf said. The problem is most billionaires tend to make other rich people richer. Not the construction workers etc. They don't recruit the small businesses or the struggling ones. They go to the large, successful ones. At the least it balances out.
--- Quote from: Shakur Abdul-Latif's Definition Of Hip-Hop..by -Infinite- on June 11, 2007, 05:50:16 AM ---2. My other question is, why do black people talk about going to college as the solution for all their problems. Because, hypothetically, from an economic standpoint, just because everyone goes to colege doesn't mean they'll have jobs for all those people right?
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It's simple statistics homie. If you go to college you will make a lot more money then if you don't. I don't approve people thinking that if they go to college it is the only way of being successful. I can probably live quite comfortably without going to college through my everyday hustle, but I've determined for me personally, I'm better off in college.
--- Quote from: Shakur Abdul-Latif's Definition Of Hip-Hop..by -Infinite- on June 11, 2007, 05:50:16 AM ---3. Even if every person in the country was motivated and wanted a job, a capatalist economy can not provide a job for every person, correct?
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Correct.
Chief:
--- Quote from: Ted Is Unofficially Voting for Ron Paul 2008! on June 12, 2007, 12:00:27 AM ---3. Even if every person in the country was motivated and wanted a job, a capatalist economy can not provide a job for every person, correct?
Correct.
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i disagree, if every person is willing and able to work, they could. here in australia the government provides work for those on welfare who are able to work, but cannot find it.
Shallow:
--- Quote from: Shakur Abdul-Latif's Definition Of Hip-Hop..by -Infinite- on June 11, 2007, 05:50:16 AM ---
1. Everyone always makes the a billionaire is wasting money on a billion dollar house when he could be feeding the poor. My question is.. Is the money really WASTED? Because doesn't that money go to the biulders of the home, the decorators, the people that gather the wood for the home, etc., etc., etc... and then those people go out and spend that money on other things, and on and on, the money keeps getting filtered back into the economy and other people's pockets and maybe someone that would have been poor and without a job instead has a job pouring concrete for the home?
--- End quote ---
I think you just described Reaganomics.
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