The merchant fears the chink.
New here?
Create an account to submit posts, participate in discussions and chat with people.
You must log in or sign up to comment
14 comments:
2
5 days ago
2 points
(+0
/
-0
/
+2Score on mirror
)
Permalink
Reply
Mirrored from scored.co
Too bad he's an idiot and loses the argument with himself at the end.
Money is infinite. Resources are not. If money is printed and handed to poor people they use it to buy resources that would've been otherwise left for the rich.
Money is infinite. Resources are not. If money is printed and handed to poor people they use it to buy resources that would've been otherwise left for the rich.
> If money is printed and handed to poor people they use it to buy resources that would've been otherwise left for the rich.
They can't, because that much printing would devalue the money to the point of them not being able to afford the valuable resource any more.
For example, look at housing the US now. Nearly nobody can afford to buy a house. Why? Because the (((federal reserve))) printed $4 Trillion dollars during COVID, which devalued the dollar by 30-40%.
Edit: Okay, I just watched the full video. I think what you're saying applies to an actual scarce resource, for example.. land, gold, a car, etc. There is only so much of it in the world that even if everyone had infinite money, not everyone could obtain it.
But the example he provided was of food, which he said we have enough to feed every mouth in the world. Which, he isn't wrong about. The world does produce enough food to feed everyone, but we still have people who starve to death. In this case, food is not a scarce resource, so the dynamic is different.
They can't, because that much printing would devalue the money to the point of them not being able to afford the valuable resource any more.
For example, look at housing the US now. Nearly nobody can afford to buy a house. Why? Because the (((federal reserve))) printed $4 Trillion dollars during COVID, which devalued the dollar by 30-40%.
Edit: Okay, I just watched the full video. I think what you're saying applies to an actual scarce resource, for example.. land, gold, a car, etc. There is only so much of it in the world that even if everyone had infinite money, not everyone could obtain it.
But the example he provided was of food, which he said we have enough to feed every mouth in the world. Which, he isn't wrong about. The world does produce enough food to feed everyone, but we still have people who starve to death. In this case, food is not a scarce resource, so the dynamic is different.
Food is still a scarce resource because it requires labor to produce. If everyone was given money why would they produce anything
> Food is still a scarce resource because it requires labor to produce.
Requiring labor doesn't make something scarce, it's supply compared to demand does. We have more than enough food in the world right now to feed everyone.
> If everyone was given money why would they produce anything
That's his point, he mentions it in the video even.. the reason why they make money scarce is to make it so people are compelled to work.
Requiring labor doesn't make something scarce, it's supply compared to demand does. We have more than enough food in the world right now to feed everyone.
> If everyone was given money why would they produce anything
That's his point, he mentions it in the video even.. the reason why they make money scarce is to make it so people are compelled to work.
Labor IS a scarce resource. Anything finite has a scarcity. You have to incentivize labor to produce it. We incentivize with reward(money). Reward without labor means nothing gets made, making EVERY RESOURCE scarce.
Toast message