Comments by "andrew worth" (@andrewworth7574) on "Unlearning Economics" channel.

@louwrentius that is, the thinking behind Marxism.
1
@louwrentius throughout the entire video our host tried to argue that wealth doesn't make people happier, that the far greater average wealth people across the planet have today is less important than the fact that poverty still exists. He demonstrates that core philosophical position of Marxism, Marxists will never be happy until everyone is equally poor.
1
@louwrentius how does there being less billionaires increase the effective income of poorer people? Do you understand the difference between assets and income?
1
@louwrentius in the US (typical of Western countries) household wealth is 3 times as large as all business wealth. The rich invest their wealth in businesses that employ much of the population, it's not possible to just wave a magic wand and end poverty. Currently there's a certain amount of wealth generated for consumption each year, despite what you imagine, the consumption of wealth by the truly wealthy, if redistributed across the other 95% of the population, would make little difference to incomes. So what exactly do you mean by taking wealth from the rich to end poverty?
1
From 1800 to 1920, life expectancy in India dropped from 25 years to 21 years, a decline of about 20%, correct. What is not mentioned, though, is that from 1920 to 2020 life expectancy in India increased from 21 years to 69 years, an increase of about 230%.
1
Life expectancy is also a useful indicator of wealth, over the last 100 years life expectancy has doubled on every continent.
1
From what I can tell, all that's been demonstrated is that those in the poorest countries who are still subsistence farming, in countries that suppress capitalism, and so are not yet a part of the global economy and marketplace, are yet to benefit from the wealth created by the global economy and marketplace.
1