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Re:Economists who defend disaster profiteers are wrong
by duxup on Tuesday April 14, 2020 @09:49AM
(#22865897)
How do you measure how much someone creates wealth?
If I give a wealthy person $100, and a poor person $100... the poor person will spend it, the rich person generally will not.
This plays out in economic stimulus studies time and again.
Re:Economists who defend disaster profiteers are wrong
by Kaiyou on Tuesday April 14, 2020 @10:15AM
(#22866236)
By his ability to earn money, generally speaking. It's not a perfect translation, but it's the method we currently have.
Saving money is better than wasting it away on booze or whatever else the poor person would want to spend it on. Spending money on things you do not need or are expecting a return on is pissing money away.
How you spend money makes a big difference.
Re:Economists who defend disaster profiteers are wrong
by alexmingoia on Monday April 13, 2020 @11:09PM
(#22862422)
You misunderstand what I'm saying. The more you have to exchange for something, the more you're foregoing other forms of consumption. If toilet paper cost you your entire budget, you wouldn't buy toilet paper at all. You'd buy food instead. In that way, prices redirect your consumption to higher priority things. That's what is meant by "more important."
That would seem to be the likely end result if it were greatly restricted.
We've already seen that with healthcare in the US. It is expensive, so is it used on more important people?