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Thread: Leftist Economist Has A Solution To Extreme Poverty: Free Money!

  1. #1
    INGSOC GURPS's Avatar
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    Leftist Economist Has A Solution To Extreme Poverty: Free Money!

    The Brookings Institute's John McArthur wrote a piece on June 1 calling for 66 countries to implement a form of guaranteed income to the poor in their respective countries that are equal to less than 1% of their gross national incomes. Anything beyond that would be too much, as it would take away funding from other crucial areas, like infrastructure.

    "This would help reach around 185 million people living in extreme poverty, more than a quarter of the world’s current total," wrote McArthur. "It includes around 100 million people in India, 17 million in Indonesia, and 9 million in Brazil, among other countries."

    McArthur did acknowledge that there are a few qualifiers associated with his idea:

    First, the efficacy and impact of cash transfers will differ across contexts.

    Second, the estimates exclude administrative systems for transfer delivery. Those costs are not zero, although they are low and declining thanks to the diffusion of digital technologies.

    Third, the figures ignore the costs of identifying the poorest people in each country. These too are not trivial, but India’s recent success in issuing more than a billion digital identity cards shows the viability of connecting to vast populations in need. Fourth, the estimates only address one dimension of living in extreme poverty—income—without considering other crucial public services like education, health, roads, and public safety systems that societies require in order to support long-term prosperity.


    Leftist Economist Has A Solution To Extreme Poverty: Free Money!
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    - Robert J. Hanlon.

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  2. #2
    sounds like wealth redistribution to me


    Quote Originally Posted by GURPS View Post
    The Brookings Institute's John McArthur wrote a piece on June 1 calling for 66 countries to implement a form of guaranteed income to the poor in their respective countries that are equal to less than 1% of their gross national incomes. Anything beyond that would be too much, as it would take away funding from other crucial areas, like infrastructure.

    "This would help reach around 185 million people living in extreme poverty, more than a quarter of the world’s current total," wrote McArthur. "It includes around 100 million people in India, 17 million in Indonesia, and 9 million in Brazil, among other countries."

    McArthur did acknowledge that there are a few qualifiers associated with his idea:

    First, the efficacy and impact of cash transfers will differ across contexts.

    Second, the estimates exclude administrative systems for transfer delivery. Those costs are not zero, although they are low and declining thanks to the diffusion of digital technologies.

    Third, the figures ignore the costs of identifying the poorest people in each country. These too are not trivial, but India’s recent success in issuing more than a billion digital identity cards shows the viability of connecting to vast populations in need. Fourth, the estimates only address one dimension of living in extreme poverty—income—without considering other crucial public services like education, health, roads, and public safety systems that societies require in order to support long-term prosperity.


    Leftist Economist Has A Solution To Extreme Poverty: Free Money!
    "IYAOYAS" and a Proud Deplorable

  3. #3
    Board Mommy vraiblonde's Avatar
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    I saw that yesterday.

    And this is an *economist* talking like this. Musta been one of those kawliges he done seen advertised in the back of a comic book.
    "Too much agreement kills a chat."
    ~Eldridge Cleaver

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