Teachers and Students > Debates
the rich should live simply, so that the poor can simply live?
~cornelia~:
note: i didnt know weather i was supposed to make this thread in debates or doubts, but i need answers that are more towards the economics side please! ;D
my economics teacher asked me this question and for the first time in econ class i was stumped!! i had no idea what to say, what has the way people live their life affect one another??
she gave me some time to get some for and against ideas..so please students help me!!? ??? :-\
Tohru Kyo Sohma:
i hopeless in debates so im not gonna be useful
but if anything clicks in this head of mine then i'll surely post!
astarmathsandphysics:
Rich people waste so much.Walk around the average reception and see how much food gets wasted.
Suggest the waiters there put all the leftovers in bags so the rich people can take it home and eat it later.
$tyli$h Executive:
"The rich should live simply" implies that rich people should not use luxuries which they normally use.
"so that poor people can simply live" means that if the rich lives simply, the poor people will be able to thrive
But in my opinion this is not a logical solution to poverty. If rich people don't use luxuries, the market for luxury goods like foreign holiday, decorations etc. would be non-existent. And since it is the poor people who, in turn, works in the luxury goods' industry, poor people would be unable to find that much employment.
~cornelia~:
--- Quote from: astarmathsandphysics on September 15, 2011, 09:15:53 am ---Rich people waste so much.Walk around the average reception and see how much food gets wasted.
Suggest the waiters there put all the leftovers in bags so the rich people can take it home and eat it later.
--- End quote ---
that's a good point and actually i gave some points like that myself but i was told that its an ethical answer..i need economic answer!
--- Quote from: $tyli$h Executive on September 15, 2011, 12:54:20 pm ---"The rich should live simply" implies that rich people should not use luxuries which they normally use.
"so that poor people can simply live" means that if the rich lives simply, the poor people will be able to thrive
But in my opinion this is not a logical solution to poverty. If rich people don't use luxuries, the market for luxury goods like foreign holiday, decorations etc. would be non-existent. And since it is the poor people who, in turn, works in the luxury goods' industry, poor people would be unable to find that much employment.
--- End quote ---
That's true.
not only will the employment get affected but because the rich will not spend, there is less money out for circulation and if there is a sharp fall in transactions (velocity of circulation) then it may be necessary for the government to print money to avoid deflation...this may also(in a way) cause money supply inflation.
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