Re Why Oxfam is getting it wrong about poverty

["Dave Farber" <farber () gmail com>]

Begin forwarded message:

> From: "John Levine" <johnl () iecc com>
> Date: January 16, 2017 at 9:42:01 PM EST
> To: dave () farber net
> Subject: Re: [IP] Re Why Oxfam is getting it wrong about poverty
>
> > > In it's first sentence, the article is demeaning, offensive, inaccurate and misleading.
> > What follows is the typical drivel: Make rich people richerer; the poor have only
> > themselves to blame.
>
> More to the point, the author is disengenuously conflating Soviet
> style economies, which were all about command and control, with actual
> redistribution.  From what I've seen, giving money to the poor in
> market economies works pretty well.  Look at the Earned Income Credit
> in the US, or various experiments in guaranteed annual income in
> northern Europe.
>
> R's,
> John
>
>
>
>
> > > > > Why Oxfam is getting it wrong about poverty
> > > > > By Tim Worstall
> > > > > Jan 16 2017
> > > > > <https://capx.co/why-oxfams-got-it-wrong-about-poverty/>
> > > > >
> > > > > As it’s Davos time, Oxfam has issued its traditional demand for a handout.  Their
> > wealth report this year informs us that a mere eight people have more wealth than the
> > bottom 50 per cent of the world’s population. This is entirely true of course. But
> > Oxfam’s solution is that we should take it from the rich and give it to the poor. Which
> > is entirely wrong.
> > > > > Our essential economic problem is that there are not enough rich people. Nor is their
> > extreme wealth a problem. Our problem is poverty, not inequality.
> > > > > Oxfam’s redistribution argument has been tried before and found wanting. It was the
> > subject of the world’s largest economic experiment: the 20th century. Anyone surveying
> > the rubble of central Europe from the Brandenburg Gate in 1989 knows that the taking and
> > giving solution does not work. ...



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