Friday, June 6, 2014

It turns out that the problem of poor people not having enough money is solved by giving them more money.


Vox - It turns out that the problem of poor people not having enough money is solved by giving them more money.

Simplified, and I already read about this months ago, some white people gave some poor Africans money with no strings attached. It turns out that the Africans bought goods and productive assets with their money, instead of blowing it all on booze and hookers.

Apparently poor people know exactly what they need to become less poor, but they can't get those things because those things require money, which they don't have, because they're poor.

And if you give poor people money, they will become less poor.

So why aren't we doing that?


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