@@thesnackbandit i think coming up with the ideas and examples is really inspiring if you think about it....but the way he combines diff topics is really amazing
pros: increase in living standard cons: less incentive to work so fewer people in workforce thus fall in human resources leads to a fall in productivity of the economy thus reducing unit labour costs as a result leading to a fall in international competitiveness leading to a fall in AD as net exports decrease ; and net imports could increase leading to a current account defecit
This would surely result in government funded drug addiction. Make no mistake, the thriving black market would love for poor people to suddenly have money to spend. Remember that many people are poor because they don't / didn't make smart decisions and choices all along.
@@amanfazil5488 An easy example to understand, If we gave 50 people in their mid 20s from all races and sexes $100 each, they would all be equally invested at that point. That evening some would go out and lay it on a bar to drink all night and celebrate. Others would plan a weekend out,.....but there would be a few that might invest in a mutual fund. Come back in a week, then a year and see how the wealth equality has worked out. Should those that profited by investing rather than taking immediate pleasure share their "wealth" with those that drank their money away? I think not.
The outcome we should be striving for is to lift the poor of society out of poverty, not to reduce the wealth of the affluent. This can only happen by creating more wealth, not by redistributing wealth from those that are productive to those that less so.
I think these these things are debatable. However I do agree that we should be aiming to end poverty. I'm generally left wing however I do see how some more central right ideas can really help with poverty. The problem is that people have become slightly obsessed with being left or right wing and so when they here ideas that come from the other ideology even if they may be helpful they sometimes dont listen
The thing is, wealth from the rich has a compound effect and they only get richer as the assets they own bring them more money. Hence, to really lift the poor out of poverty, redistribution of wealth is important or else the wealth will continue to be owned by the riches and that wealth will grow as it is stored over time which takes up the potential for the poor to even get wealthier. Resources are scarce, wealth is limited and only those who own the resources create more and more wealth; something the poor simply can't get :( to help them get lifted out of the poverty cycle, what they need is that of wealth redistribution mixed in with their own dedication and productivity
@@woogahmm1404 First off I don't agree that wealth is limited at all. When wealthy industries and people become more wealthy they hire more people and do in fact provide more opportunity. The rising economic tide lifts all boats. Wealth is not a zero sum amount in that if one sector takes a larger percentage it reduces the remaining amount for others to control. To lift lower income people out of poverty can be achieved by providing additional employment opportunity....... that corporations and wealthy people provide.
@@erth2man have you heard of the concept relative poverty? what you described here fits the fact that this is exactly what is happening and relative poverty still continues to exist in large percentages
@@woogahmm1404 In the US for instance, there is a vast spectrum of safety net systems to keep people form absolute poverty and in many cases will elevate them above the relative poverty line. Many of the people that would qualify for nationally or locally available assistance programs never even applied to take advantage of them. Wealthy people already help everyone by investing capitol so it is available for people to borrow to start a business or seek patents for creative ideas creating more wealth. This helps themselves and the other people they hire to be above relative poverty. There is no limit to resources that everyone has access to, it only takes those with imagination and the willingness to make it work for them. Capitalism and the free market is still the best system by far for bringing the largest percentage of people out of poverty.
I have the financial sector and economic development playlists left 1 month and 4 days tll the first exam. I have now upped my study hours to 50 hours plus 1 all nighter per week. I started watching this too late
Yeah they can; the policies that increase income for low earners can be manipulated to say that they could also lift people out of relative poverty, and the policies that increase income for the poor and reduce income for the rich such as the taxation policy, minimum wage/maximum wage etc. can be manipulated to say that they too decrease inequality and lessen the gap between the rich and the poor. You can draw a Lorenz curve and line of absolute equality to show the reducing inequality.
"Policies to Redistribute Income and Wealth with Evaluation" As it is more honestly known: Policies to Steal Income and Wealth and Give it to Other People
go to a less developed country then and see how you like it. In case you forgot, you probably benefit from wealth redistribution - did you go to school for free by any chance?
@@fnrijufnficnf182 "go to a less developed country then and see how you like it" It isn't my fault it's a less developed country. The solution is not to seize from more developed countries and give what was seized to les developed countries. "In case you forgot, you probably benefit from wealth redistribution " Define what YOU mean by wealth redistribution. "did you go to school for free by any chance?" No one goes to school for free. The school is paid for by taxes collected from all taxpayers.
Enforced equality is a bad idea. A policy of big interventionist government who thinks they know better but just sends productive entrepreneurs elsewhere with their high taxes
![ILLSLICK X YOUNGOHM - We're The same [Official Video]](http://i.ytimg.com/vi/yUJNkobYR0E/mqdefault.jpg)
Can we just appreciate how Mr Dal makes these videos uncut. Serious brainpower with no stops
Not hating but this isn’t exactly the most complicated presentation.
@@thesnackbandit i think coming up with the ideas and examples is really inspiring if you think about it....but the way he combines diff topics is really amazing
I've learnt more from your videos then i have in the past 2 years of school
I have two good teachers and I still learn't more from these videos than school XD
Learnt more from this video than the past 7 years of school
How many more times am I supposed to admire this man, MashaAllah.
You are the best! I hopefully will do good in tomorrow' s exam. Fingers crossed
so did u do well?
@James Abdullah go away bots
@@ninonino7078 I don’t think I did that well hahaha
@James Abdullah fake
@@arpananepal5261what’d you get
You know what you’re doing if you watched this today
Deadass
This guy really be helping me with my economics VCE homework. Thanks man :)
Thanks so much Dan! My assessments have been successful thanks to ur videos :)
Thanks a lot Mr.Dal
amazing video man, really needed this for my government policies internal
OMG DID U TAKE THE IB?? YOU KNOW EXACTLY WHATS ASKED ON THE TESTS. THANK GOD FOR YOUR CHANNEL!
Best teacher ever
Yes really increasing the productive region of brain needs a great inclusion.Thus the sales will be better in each segment.
hi sir. what are the two policy options to adress some of the undesirable implications of higher construction materials prices.?
Great video, could you mention Universal Basic Income as a policy to reduce inequality. If so, what would be the pros and cons ?
pros: increase in living standard cons: less incentive to work so fewer people in workforce thus fall in human resources leads to a fall in productivity of the economy thus reducing unit labour costs as a result leading to a fall in international competitiveness leading to a fall in AD as net exports decrease ; and net imports could increase leading to a current account defecit
This would surely result in government funded drug addiction. Make no mistake, the thriving black market would love for poor people to suddenly have money to spend. Remember that many people are poor because they don't / didn't make smart decisions and choices all along.
@@erth2man Cynic's guide to economics 🙄
@@amanfazil5488 An easy example to understand, If we gave 50 people in their mid 20s from all races and sexes $100 each, they would all be equally invested at that point. That evening some would go out and lay it on a bar to drink all night and celebrate. Others would plan a weekend out,.....but there would be a few that might invest in a mutual fund. Come back in a week, then a year and see how the wealth equality has worked out. Should those that profited by investing rather than taking immediate pleasure share their "wealth" with those that drank their money away? I think not.
@@erth2man Lmfao real life wealth is much different to that. The majority of wealth is inherited, and the majority of poverty is inherited.
Keep up the goodwork sir!
Very good video!
OMGGG THANK U I NEEDED THIS~~~
Great video thank you very much!!
Great
Very informative! Thank you for sharing
ib eco exam tomorrow, thank uuuuu
The outcome we should be striving for is to lift the poor of society out of poverty, not to reduce the wealth of the affluent. This can only happen by creating more wealth, not by redistributing wealth from those that are productive to those that less so.
I think these these things are debatable. However I do agree that we should be aiming to end poverty. I'm generally left wing however I do see how some more central right ideas can really help with poverty. The problem is that people have become slightly obsessed with being left or right wing and so when they here ideas that come from the other ideology even if they may be helpful they sometimes dont listen
The thing is, wealth from the rich has a compound effect and they only get richer as the assets they own bring them more money. Hence, to really lift the poor out of poverty, redistribution of wealth is important or else the wealth will continue to be owned by the riches and that wealth will grow as it is stored over time which takes up the potential for the poor to even get wealthier. Resources are scarce, wealth is limited and only those who own the resources create more and more wealth; something the poor simply can't get :( to help them get lifted out of the poverty cycle, what they need is that of wealth redistribution mixed in with their own dedication and productivity
@@woogahmm1404 First off I don't agree that wealth is limited at all. When wealthy industries and people become more wealthy they hire more people and do in fact provide more opportunity. The rising economic tide lifts all boats. Wealth is not a zero sum amount in that if one sector takes a larger percentage it reduces the remaining amount for others to control. To lift lower income people out of poverty can be achieved by providing additional employment opportunity....... that corporations and wealthy people provide.
@@erth2man have you heard of the concept relative poverty? what you described here fits the fact that this is exactly what is happening and relative poverty still continues to exist in large percentages
@@woogahmm1404 In the US for instance, there is a vast spectrum of safety net systems to keep people form absolute poverty and in many cases will elevate them above the relative poverty line. Many of the people that would qualify for nationally or locally available assistance programs never even applied to take advantage of them. Wealthy people already help everyone by investing capitol so it is available for people to borrow to start a business or seek patents for creative ideas creating more wealth. This helps themselves and the other people they hire to be above relative poverty. There is no limit to resources that everyone has access to, it only takes those with imagination and the willingness to make it work for them. Capitalism and the free market is still the best system by far for bringing the largest percentage of people out of poverty.
I have the financial sector and economic development playlists left 1 month and 4 days tll the first exam. I have now upped my study hours to 50 hours plus 1 all nighter per week. I started watching this too late
Cheers.
THANK YOU VERY MUCH
Thank you so much
Sir how can we buy your books
Is it available on amazon
Is it available in India?
thank you
thss ias btoh ,micro and mszcro yeh?
can these be gov interventions for poverty and inequality aswell
Yeah they can; the policies that increase income for low earners can be manipulated to say that they could also lift people out of relative poverty, and the policies that increase income for the poor and reduce income for the rich such as the taxation policy, minimum wage/maximum wage etc. can be manipulated to say that they too decrease inequality and lessen the gap between the rich and the poor. You can draw a Lorenz curve and line of absolute equality to show the reducing inequality.
VAT doesn't necessarily have to be regressive; you just have to make essentials tax exempt.
daddy dal
that shirt makes me blush
can you use the laffer curve for econ3?
its only for unit 4 loool
+hasan karakaya ffs. so fucked for monday
What exam board
+hasan karakaya AQA. wbu
You use it in aqa i think
g ur massive
My mans wearing a bra
@Great Leader Kim il Sung aye big up Virang Dal the g
What does MRP stand for?
marginal revenue product which is the additional revenue from hiring an additional worker so basically a measure of how productive an individual is
Thank you very much!
hype
"Policies to Redistribute Income and Wealth with Evaluation"
As it is more honestly known:
Policies to Steal Income and Wealth and Give it to Other People
@A-level Maths Solutions yeah it isn't that deep that the state can arbitrarily cease peoples assets
go to a less developed country then and see how you like it. In case you forgot, you probably benefit from wealth redistribution - did you go to school for free by any chance?
@@fnrijufnficnf182 "go to a less developed country then and see how you like it"
It isn't my fault it's a less developed country. The solution is not to seize from more developed countries and give what was seized to les developed countries.
"In case you forgot, you probably benefit from wealth redistribution "
Define what YOU mean by wealth redistribution.
"did you go to school for free by any chance?"
No one goes to school for free. The school is paid for by taxes collected from all taxpayers.
Enforced equality is a bad idea. A policy of big interventionist government who thinks they know better but just sends productive entrepreneurs elsewhere with their high taxes
was that ever suggested? No.
this is not macro
well it is mate