Sponsored Ad:
See the top rated post in this thread. Click here

Page 1 of 2 12 LastLast
Results 1 to 10 of 15

Thread: What would it take... (a purely speculative thread for a sunny Sunday afternoon)

  1. #1
    To thyself be true. TomRod's Avatar
    Join Date
    Mar 2009
    Posts
    1,019
    Rep Power
    16


    Good post? Yes | No

    What would it take... (a purely speculative thread for a sunny Sunday afternoon)

    Sponsored Ad:
    ... to build a space elevator?

    ... to end poverty?

    ... to normalize the welfare distribution?

    Discuss and amend!
    Servere est vivere. Vivere est vincere.

  2. #2
    Within my grasp! ZomgRogged's Avatar
    Join Date
    Jun 2008
    Posts
    356
    Rep Power
    14


    Good post? Yes | No
    1) I have no idea what this even means...like an elevator that goes to space I'm guessing? Probably 20 PhD engineering candidates fighting over a recommendation.

    2) A 100% tax on all income and assets followed by a uniform distribution to households

    3) " " normal " "

    Where's my cookie?

  3. #3
    To thyself be true. TomRod's Avatar
    Join Date
    Mar 2009
    Posts
    1,019
    Rep Power
    16


    Good post? Yes | No
    Here!!!

    Better hurry though, Cookie Monster comes around here often.
    Servere est vivere. Vivere est vincere.

  4. #4
    Within my grasp! ZomgRogged's Avatar
    Join Date
    Jun 2008
    Posts
    356
    Rep Power
    14


    Good post? Yes | No
    In all seriousness I have serious doubts that market forces can bring about the last two without serious government intervention. It also depends on what we consider "poverty" and out of curiosity do you think a normal distribution of wealth is a good thing?

  5. #5
    To thyself be true. TomRod's Avatar
    Join Date
    Mar 2009
    Posts
    1,019
    Rep Power
    16


    Good post? Yes | No
    I'm undecided on the morass of that subject at this point. There is much to say concerning both just deserts and helping those in poverty.

    I also doubt that market forces can bring about the first in any reasonable time frame :-)
    Servere est vivere. Vivere est vincere.

  6. #6
    An Urch Guru Pundit Swami Sage Andronicus's Avatar
    Join Date
    Aug 2007
    Posts
    718
    Rep Power
    17


    Good post? Yes | No
    1) A mind-boggling amount of money and new metal stronger and lighter than anything currently known.

    2) A technological singularity that brings about a post-scarcity economy (as opposed to the extermination of the human race by a swarm of bloodthirsty nanobots, which seems equally likely).

    3) Not sure what you mean by this.

  7. #7
    Eager!
    Join Date
    Apr 2010
    Posts
    59
    Rep Power
    11


    Good post? Yes | No
    I think OP uses "normalize" to mean force the welfare distribution to approach a normal distribution. If so, I think there are interesting moral questions to answer as to whether this is preferable. It is certainly not pareto efficient.

    Anyway, on to two (and as a response to zomg), I highly doubt that 100% income tax or "serious" government intervention is the optimal solution. Wealth stock is dynamic and either of these would force the wealth stock to plummet. Moreover, substantial transaction costs will eat away at the available stock of wealth.

    Better instead to structure institutions to incentivize entrepreneurship and wealth creation and human capital investments, along with a minimal level of public assistance. There is a lot of focus among leftists on the "market failure" roots of poverty; these individuals ignore that "government failure" is often just as strong a force. If the rightsizing of government and the creation and refinement of appropriate institutions is pursued, "poverty" - by which I mean the condition of being unable to meet certain basic needs like food, clothing, shelter, etc... - will decrease naturally.

    The trend of history suggests that the poor are getting richer in two ways. First, the relative expenditures on basic needs has been plummeting: http://3.bp.blogspot.com/_otfwl2zc6Q...s1600/food.jpg. Second, quality increases in goods and services almost consistently amount to "real" wealth improvements for each successive generation of impoverished.
    Last edited by assgf3; 05-23-2011 at 02:21 AM.

  8. #8
    Aspiring Workaholic Zeno's Avatar
    Join Date
    Mar 2010
    Posts
    512
    Rep Power
    13


    Good post? Yes | No
    Quote Originally Posted by assgf3 View Post
    It is certainly not pareto efficient.
    Umm...

  9. #9
    An Urch Guru Pundit Swami Sage rthunder27's Avatar
    Join Date
    Oct 2010
    Posts
    536
    Rep Power
    12


    Good post? Yes | No
    Wasn't it just last week that the OP was complaining about people posting non-admission related threads in this forum? http://www.urch.com/forums/phd-econo...tml#post861803

    1) Andronicus is right, it would take further breakthrough in material sciences, probably involving carbon nanotubes or something similar. The Space Review: The space elevator: going up? part 1 (page 1)

    2) A massive change in human nature (or more simply, a redefinition of the word "poverty").

    3) Massive government interference and/or society moving away from capitalism, since it seems pareto distributions of income are a natural result of a market economies.
    My Profile and Results Stanford GSB Finance '16

  10. #10
    Gah!
    Join Date
    Mar 2011
    Posts
    94
    Rep Power
    10


    Good post? Yes | No
    1. after successfully building the space ladder and the space staircase.
    2. stop considering poor people human beings
    3. don't see why that would be desirable at all, since normal distribution of welfare is still very inequitable.
    Dispensing bad advice since Halley's last visit.

Page 1 of 2 12 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Speculative answer for a SC..Please Help!
    By gogre in forum GRE Sentence Completions
    Replies: 5
    Last Post: 03-22-2010, 05:37 AM
  2. Greetings from sunny Costa Rica
    By RichardBlank in forum Introductions
    Replies: 4
    Last Post: 01-31-2008, 06:17 PM
  3. 157 There is no such thing as purely objective obs
    By sow1225 in forum GRE Analysis of an Issue
    Replies: 2
    Last Post: 08-14-2003, 06:47 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •