What happens to income when socialist policies are enacted?
Responses
Willcarpenter9_431582
Total incomes decline as economy stagnates
Posted
Nov 3, 2020
daniel.stalling7_434612
Wealth is forcibly distributed across large numbers of people without allowing them the opportunity to accumulate wealth. This creates a largely impoverished, non-inovative, poorly motivated population. Additionally, without accumulation of capital in the amounts required for investment, these laws slow down, or even stop, economic growth.
Posted
Nov 1, 2022
daniel.stalling7_434612
Read “Socialism, Capitalism, and Income” by Edward Lazear, available - 404 Page not found.
How would you relate this to Bill Gates 2009 Ted Talk (now almost unfindable on the internet) where he talks about creating a form of market that reaches those at the bottom who do not have the income to participate in the profit driven upper spectrum of the Free Market economy?
Responses
Total incomes decline as economy stagnates
Wealth is forcibly distributed across large numbers of people without allowing them the opportunity to accumulate wealth. This creates a largely impoverished, non-inovative, poorly motivated population. Additionally, without accumulation of capital in the amounts required for investment, these laws slow down, or even stop, economic growth.
Read “Socialism, Capitalism, and Income” by Edward Lazear, available - 404 Page not found.
How would you relate this to Bill Gates 2009 Ted Talk (now almost unfindable on the internet) where he talks about creating a form of market that reaches those at the bottom who do not have the income to participate in the profit driven upper spectrum of the Free Market economy?