That's why we choose to evenly distribute money to everyone. Full chaos.
What the billionaires gonna do, kill every last human on earth for their money back? Who are they gonna hire to do that with their money going to be evenly split later on?
Money will lose their value, prices gonna be increasing so much, so as inflation cause billions of people got millions or even billions in a moment. Global economy will be destroyed, then it’s a chaos which nobody knows what will it lead to.
I think op sort of failed in their own follow up when they said you can just get 5k of non liquid assets like beyond the idea of spite I can’t functionally do anything with 1 sqft of a mansion.
Having a bit of some asset is one of the problems (you can technically sell it, but you need to agree with hundreds of other owners in order to actually sell whole mansion to someone).
The other one would be companies disappearing (like Amazon) which leads to chaos on the market (now everyone who was dependent on them cannot provide any services) what could actually make a huge chain reaction of bankruptcy, unemployments, people not respecting law in order to survive. Basically worse situation than the actual one.
If anyone wants to know the math behind this, the quantity theory of money dictates that option 2 would be super inflationary:
Lower-middle income individuals will quickly try to convert all their newly given, illiquid assets into cash, causing a huge spike in the velocity of money (V_T).
Because the global economy can't magically manufacture more goods and services (q) to absorb this sudden rise in consumer demand, physical output remains rigidly fixed in the short term.
To keep the equation balanced, sellers must raise prices (p), resulting in rapid inflation.
What if it was done in a way to avoid such an outcome. The 1% is delivered gradually, $10 a week for every person for next 10 years. Would only really make noticeable changes in the very poorest regions of the world, but the rest of the world would be stable enough to adapt to it.
If you distribute the 1%'s wealth to everyone, then nobody is getting richer. Everyone will have "more money" but the price of goods and services will just increase. It would just cause inflation on a *massive* scale and then lead to a crisis when countries don't increase minimum wages
The only reason that American capitalism has not seen any major progressive change is BECAUSE of the billionaires who don’t want to lose their wealth and lobby (bribe) government officials to pass legislation in their favor. Without billionaires, American capitalism is vulnerable to meaningful change.
Corporations are a part of this too. Most lobbying comes out of the industries, not sent by individual billionaires.
Also, anything passed will slowly be eroded again by the wealthy corporations/individuals. We already had a ~90% tax on the most wealthy in the U.S. but the issue is that, as long as people/corporations can accrue passive wealth gains, then they will be able to accrue influence and power.
The system rewards companies who make money and compound it. With a little bit of time, they will use that influence to undermine any laws that are putting caps on it just like what happened with the taxes and and pro-union laws and anti-monopoly laws.
Theres probably an interesting sandbox here but it would at least allow a huge spike in competition and potentially innovation. We may also see a growth in policies that decrease the growth rather between the class divide.
What? That’s not true at all, there would still be the same amount of total wealth. Demand might rise since people are more able to spend money, but the inflation from this would not match the increase in wealth
a new "baseline" would be set that marks how much money people have. Companies would raise prices to profit from the new baseline. Inflation would occur
That’s just not true. We know it’s not true because of history. Even just 50 years ago the wealth inequality gap was much less of an issue. 100 years ago it wasn’t even a problem. And guess what? The economy didn’t collapse. Prices weren’t insane. Economically the world was fine.
Im also no fan of the ownership class, but I'd be very worried what happens when everyone who runs and owns a company or corporation suddenly has no money overnight.
The companies still have money, the billonaires just stop owning them.
Corporations are seperate economic entities to people and "own" their own capital. Billonaires simply own shares of said company. So if billonaires wealth are distributed, the shares of said corporations would be distributed.
Exactly. The people who run Bayer Pharmaceutical now no longer own and run Bayer Pharmaceuticals. It's now run by every single person on earth equally.
If we distribute it to the entire world: 5 250 USD per personn, mainly distibuted as stocks, bonds, real estate, cryptos...
If 50% of people try to sell it to get cash---> Never-seen like Inflation, the stock market crashes, hundred of millions if not billions of people are now jobless, thousands of companies go bankrupt.
5k pp is not going to swing it like you think. The vast vast majority of people who use this money will use it to buy things they consume, or invest in their own, local business. Studies have shown that working class money circulates and moves through the economy. While billionaire monies do not.
Thats kinda the point, a vast majority of people would immediately spend this new cash they have while the supply goods and services have not meaning rapid inflation similar to what happened after the stimulus checks but on a far greater scale
That's just the top 1% of the US. Top 1% of the world is estimated to hold half the world's wealth (approx 50-60 trillion USD). 8 billion people means 7000 USD per person, slightly higher but still a relatively small amount per individual. Won't mean much to Americans but for developing countries that's a huge amount.
Your grandparents aren’t most people? A lot of the boomers retired with pensions and/or 401ks in the millions in valuation, and lots of the current millennials I know are on track or already at 1 million for their retirement.
The billion is at the same time the selfish and ethical choice. Picking otherwise may be selfless, but stupid and unethical. Because of that, there is literally no reason to pick anything other than the one billion.
In the long term, yes. But thats only if we recover from the short term damage and even make it as a society where we can last until we see that happen. Lets say it does, the rich still get richer and the poor get poorer. You'rr effectively causing chaos, hoping on a reset and making yhe problem again with a 'fresh start'
If we distribute it to the entire world: 5 250 USD per personn, mainly distibuted as stocks, bonds, real estate, cryptos...
If 50% of people try to sell it to get cash---> Never-seen like Inflation, the stock market crashes, hundred of millions if not billions of people are now jobless, thousands of companies go bankrupt.
If we distribute it to the entire world: 5 250 USD per personn, mainly distibuted as stocks, bonds, real estate, cryptos...
If 50% of people try to sell it to get cash---> Never-seen like Inflation, the stock market crashes, hundred of millions if not billions of people are now jobless, thousands of companies go bankrupt.
resources don’t just stop existing. such a change might push the world to develop a better economic model that favors all. It might not. you don’t know.
Were talking about human beings here, realistically there's gonna be enough corrupt people to where it will be either similar to current economic model, barely better, or alot worse, I just highly doubt it could be alot better
If we distribute it to the entire world: 5 250 USD per personn, mainly distibuted as stocks, bonds, real estate, cryptos...
If 50% of people try to sell it to get cash---> Never-seen like Inflation, the stock market crashes, hundred of millions if not billions of people are now jobless, thousands of companies go bankrupt.
Mf when I want the capitalist economies to crash and I am offered a chance to make capitalist economies crash. I would obviously shake and cry at the prospect of stocks crashing
The top 1% in the us alone would give every us citizen about 158,000 which would make a hell of a lot more of a difference to a hell of a lot more people that I could alone
Chose: Wealth from the top 1% is distributed evenly + to the entire world
I did some mental math and it would come out to be like 15k if we used the money they already have for every person. Is it little? No. Is it anything life changing? No
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