In order to abolish poverty, do we not need to abolish extreme wealth too?

Question

I have no background in economics, statistics, or even demographics but I was wondering, to stop poverty, do we not have to stop extreme wealth as well?

The reason that I started thinking about this was I just finished watching the film, The Constant Gardener. Although it is not based on actual events, the author of the book, John LeCarre did say that from his knowledge and experience of the world, his book looks like a holiday postcard in comparison. It got me thinking....

Answer 1

Wealth=Selfishness no matter how you cut it.

Selfishness is not working with society, it is working against it. There is difference between an opinion and a threat and at this point the extremely wealthy are threatening us in every way.

Give a man a fish he will eat for a day. Teach him to fish he will eat for a lifetime, till someone kills or “owns” all the fish.

Poverty stems from profit and bureaucracy.

Answer 2

No, we need to educate in order to stop poverty. A great book to read about this is "How to Change the World" by David Bornstein. I have lived in the poorest areas of the world, I watched one young man many years ago create a center in Peru, that started with only 14 to 20 children who were shoe shine boys and newspaper kids on the street. Twenty years later that whole city has changed because this young man created a program that one child at a time, then more and more and by creating a program to educate and get these families involved change the complete social economic statue of a community. Just as the Gates Foundation and other millionaires have found out, you can't just give money away to make change, you need to educate so that people have the opportunity to make choices so that change can occur. I once said to someone I wonder what that man is thinking sitting in that field, and the person who worked in that area answered, he isn't thinking for he has never been educated into wanting to think. So I entered the field and asked the man "What are you thinking, and he answered what is thinking..." I was shocked. But it's a true story, that is when I realized poverty needs to be educated. When someone doesn't know that by buying bones to make a broth gives you no nutrition, but the same cost of those bones you could buy beans and have a broth and protein and is a better choice, comes from knowledge and education. Boiling water so that you wash a cut so it doesn't get infected comes from knowledge and from living in a educated society, some people have no idea of even this simple idea as a reality. If you really care about this topic I would say read the book I mentioned. Now with the internet and the world becoming global I just picked up but have not yet read The Long Tail about living in a global society. It's all again about being educated, for without some education we couldn't even be having this discussion or know how to use the internet. Remember alot of places in the world still do not even have electricity, running water, or toilets and a sewer system. They don't even know the words or the concept of living like some of us do. Again education creates change, but poverty is the cause of a few rich wanting to retain power, and with ignorance of the masses the rich stay rich, education of all makes a more level playing field. There will always be people of extreme wealth, that is something that has existed throughout humanity in one form or another. It is how the rest are able to live. Look at the USSR, everyone was given a equal education, however even under that form of government there were the top people who lived in wealth. But in time through education the masses realized that they wanted a different way of life. Now many have nothing, but through education they chose freedom of choice over security of financial wealth. Within a short period of time, people became homeless, and crime became rampant in many areas. So there is no utopia, but education will bring about choice of the way an individual lives.

Answer 3

Abolishing wealth will have no effect on poverty, except maybe to increase it. The problem is a bit more complex than an "either/or" solution.

At the risk of turning off some of the really sophisticated people who use this site, Jesus once said "The poor you will always have with you." And he was right. For one reason or another, there will always be people at the low end of the economic spectrum. Remember, thought, that the "poor" in the USA seem relatively wealthy to the average citizen of many of the world's nations where monthly wages aren't much better than our minimum hourly wage is here.

There are some in our country, and elsewhere, who are obscenely rich. They have so much more than they need that it's just unimaginable to most people. But taking it away from them won't necessarily make anything better; it'll just make them angry. By the same token, giving more of the world's wealth to those who don't have enough won't necessarily cure anything either. People need education, motivation, and more than financial assistance to rise up out of dire poverty. Some people will never make it, no matter how much we help them.

So, do we just keep things the way they are? I'm not saying that. What I am saying is that we need to develop a deeper sense of commitment and service to the poor on the part of those in positions to extend real assistance. At the same time, we need to build on the desire and motiviation already present in some of the needy, and add something called "opportunity." Altruism on the one side, and the removal of frustration on the other, will lead to some chipping away of the dichotomy that we now have. All we need is EVERYBODY's cooperation!

Now, THAT would be something, wouldn't it?

Answer 4

Absofreakin'lutely. There is X amount of money in an economy, or a country, or the world, at one time. A country can't just print money at will or inflation will be the result, then we're all screwed. So, the X amount of money that exists has to be "redistributed" to reduce poverty. You have to change the present structure of how money is distributed in the first place.
How did Bill Gates get rich? By getting people to give him their part of that existing X amount of money in the economy. Sounds pretty stupid but it makes sense.
That's why interest rates are so important in the economy. This is how money is "created". The control of interest rates is the way that money is funnelled into economies. Example: The country's central Bank (in the US, the Federal Reserve) decides if there is enough money circulating in the economy. If not, they lower the interest rate thereby making it cheaper to take out a loan at the bank. This is supposed to stimulate the economy by having businesses invest in certain projects which, in turn, is supposed to create jobs. In theory.
In other words, people are poor because they have less money. Take away money from the rich and give it to the poor and the poor will be less poor and the rich less rich. Keep taking from the rich and giving to the poor and eventually neither will be rich or poor.
Great question!

Answer 5

There have been attempts to abolish poverty in history. In their purest forms, Socialism and Communism could ultimitely reduce the class divide and support all members of a community (or nation).

The problem is that power corrupts, and leaders of socialist or communist nations do not always have their citizens' best interests in mind.

As far as capitalism is concerned, the only way for it to function properly is to have poverty. Unfortunately, capitalism can not survive without rich AND poor.

Answer 6

How much money do you really need in one lifetime? If you've got everything taken care of, including your family for the next 3 generations, isn't that enough? Since whites equate money with power, the issue isn't even money. There's enough of everything to go around, but with so much wastage and hoarding, some of us don't get our fair share. It's not a question of "deserving" a decent standard of living. It should be a human right all over the world to health care, education and decent housing. If every person had their basic needs taken care of, jealousy, anger and violence would not be necessary.

Answer 7

All that is needed to eliminate poverty is for the poor (most of them) to use their imaginations and hands and work towards a better future. If I worked hard, saved my money, and invested well and found that my hard word and smart investments had made me super rich I would fight tooth and nail to keep it. It is grossly unfair to blame the achievers for the lack of success of the needy. And there will always be the poor and needy.

Answer 8

most of the people who become very wealthy got there because they worked hard and made smart business desicions. others inheirited or and some got rich by breaking the law. if getting rid of extreme wealth is the only way to get rid of extreme povery then we should do it. but like i said most of the wealthy people earned their money legallay and i don't believe it's fair to take away something they worked hard for.

Answer 9

The extreme wealth need not be abolished but is needed tofree form selfish handsand minds . the wealth the magnet which can generate wealth ..... if put to proper use.

Answer 10

There has to be a sharing to eliminate poverty. This would and could deminish the ultimate wealth of some, to be sure.