Why was $7 chosen? Does it become a standard to use the state wage, or near the state wage, when referring to the income of the “poor”? Does this person only work 40 hours a week, or can they work more than one job? Why is someone working what seems to be a below min wage job while they are apparently living on their own in your imaginary construct? I’m just wondering, I never met anyone living on their own while working jobs generally held by high school and/or college students, or typically min wage jobs.
Why was $7 chosen? Does it become a standard to use the state wage, or near the state wage, when referring to the income of the “poor”? Does this person only work 40 hours a week, or can they work more than one job? Why is someone working what seems to be a below min wage job while they are apparently living on their own in your imaginary construct? I’m just wondering, I never met anyone living on their own while working jobs generally held by high school and/or college students, or typically min wage jobs.
It was merely a hypothetical, I assure you. Once again, I was in no way saying it is impossible to save. I merely responded to the question “why do they find it so hard to save.”
Raising it above min wage really doesnt change it though. The point I was trying to get across is that many workers are not as informed/educated/smart about their personal finances as some of their other bretheren. And some just flat out do not see value in living below their means (credit in modern America anyone? lol). It is just in my leftist nature to speak up for the poor when they get blamed for their situation, especially considering 6000 years of statist hegemony and economic exploitation that comes with it.
It is one thing to say that capitalism can provide the most social mobility of any yet known system. It is quite another to assert that there has ever been real capitalism in the world.
It was merely a hypothetical, I assure you. Once again, I was in no way saying it is impossible to save. I merely responded to the question “why do they find it so hard to save.”
It’s a question that one might not find an objective answer to. Why do the poor find it so hard to save? Maybe their income is spent on trivial things, or maybe they don’t actually save at all, bad investments, etc. Also, what qualifies someone as being poor? This is all quite hypothetical. I’m sure what answers I have my differ from yours.
I dont think our conclusions would be neccesarily that much different, as much as our starting points are. I am almost sure we both believe all people should be free to choose their own path, free from coercion and exploitation.
I just start from the premise that all exploitation originates in the economy, and then spreads to other sectors.
But I would also think we would agree that it is the State that institutionalizes all exploitation through its coercion. And where it not for state coercion, most if not all forms of exploitation would never be able to gain any kind of traction.
Its not the norm anymore, but it used to be, and still is in many countries.
You can choose this parameter.
I think most people realize if they had roommates their rent would be lower. That if they didn’t buy beer and nachos they would save more money…
Thats what I said. People just have a high time preference. They prefer to live right at their means and have all the goodies now instead of more goodies later. I don’t see why this is problemmatic.
Why not? If I purchase a computer and equipment, are they not my personal belongings? Now, what if I set up a website and use my computer to conduct business? Or perhaps write games or programs for the public? They still belong to me, yet I use them as a means to produce goods and services.
Capital (or means of production) is always somebody’s belonging, whether an individual or a company - either public or private (although the converse is not always true).
not to detract from the topic, Rob, but a question of curiosity - i noticed you qutoed Prof. Wolff (or rather, gave us links to his videos) a few times. Is he a well-known marxist expert? or do you know him? Either way, he was my professor at University of Massachusetts. Go figure
Really I didnt so much say it was problematic. I responded to the question “why do they find it hard to save.”
I am just sayin, you have to realize that many people’s idea of a good life is friends, family, and fun. To them material wealth is not neccessarry for personal happiness. The idea that save now, be much happier later is a non-sequiter (i hope I am using this term correctly), they value present consumption to future consumption.
Would you agree that in a truly capitalist society, the gap between rich and poor will be much smaller?
I wouldn’t, but it’s just a hunch. I think the gap would still be large. There would just be a lot more material wealth to go around and the poor would be richer as compared to any other alternative system. Take a look at the poor in the west vs. the poor in, let’s say, Congo or North Korea.
