Dead Wrong® with Johan Norberg - Inequality

[@LukeAvedon]

The Dead Wrong sound effect is hilarious and incredible.

[@tor9885]

“The only way to sustainably reduce poverty is to invest in future productivity and wealth. And interestingly, that only happens in the countries that allow poor individuals with great ideas to become super rich”

[@karozans]

I like this guy.

[@grantcivyt]

This is so difficult an idea to accept for many people. I don't know if it's an instinct or the framing of the problem, but it seems to be a very natural assumption that the world's poor are poor because the world's wealthy are wealthy. Of course, that's true in many parts of the world.

[@juanvallejos4436]

Completly agree! Cheers from Buenos Aires Johan!

[@williamkern7931]

Dynamite message, but really needs to be accompanied by some graphics.

[@SDM3791]

Yes.

[@BraulioAntonio]

It would be good if poverty conditions didn't smash to zero any likelihood of having and taking to reality good ideas. Good ideas, most of the time, need investment, and in the current trend no one would invest in a poor person's idea even if it were great. That is the reality.

[@jaythizzle1969]

Spot on

[@EVERYTHINGUNEDITED1]

it should also be cleared to people that currency or numeric money value is not real wealth, wealth is the supply of goods and services. 15 dollars doesn't mean anything for the daughter because it will only last her 2-3 days of eating maximum in a first world country (thats where she is from). poverty is relative, what we should focus on is the rate of socioeconomic progress an individual can attain through trading (trading in this case means working, creating opportunities , investing, selling etc everything to do with transfer of goods and services) . The extremely poor person in a relatively poor neighbour or region may own a goat, that goat will actually last that person longer than weeks, monetary value of the goat will varies from region to region but surely relative to the opportunity, the person with that one goat is wealthier than the kid with 15 dollars who doesn't have the knowledge and survival skills. A person without a goat who is an adult living in the forest is probably still more wealthier than the kid. Why? because he has the knowledge and skill to provide himself with food and resources around him .

[@EVERYTHINGUNEDITED1]

judging wealth in one monetary value is the worst way to determine or distinguish what poverty is in a world of tarrifs and trade barriers and central banks.

[@anoopravi947]

👍🏆

[@mnhsty]

Much of the inequality is due to exploitation, which is how many of the rich get rich. Inequality may not be an economic problem, but it is a political and social one that takes money to address.

[@User-xw6kd]

Ron Warrick There are people who have exploited others to get rich, I won't deny that. You are right. But most rich people have earned or inherited their wealth legally.

[@theeldialblo4807]

The reason why the poor people can be exploited in a free market is because they did agree to work for the salary which either means they are in an even worse situation before the work opportunity or that they were stupid. I think most of them were in an even worse situation which makes the problem obvious, it's poverty which is the real problem