will world war 3 start when all poverty is erradicated? i mean without poverty we have no profit!?

Answer 1

World War III has already begun.

Revolutions are begun when enough people go hungry for a long enough period of time.

And, without poverty, the profits will soar through the roof for anyone who has a half baked product to sell.

Answer 2

The human nature of greed means that poverty will never be eradicated.

With regards to world war 3 it will not be a war the history of the 1st and 2nd. It will be a war waged using technology and intellect rather than the use of physic force as nobody will win a war based on fire power.

Answer 3

It is false that in order to profit another must be impoverished. This notion was last taken seriously by the mercantilists during the first part of the18th century. At that time it was accepted as a fundamental principle of political economy (That was before there was any discipline knows as economics.)

David Hume (the teacher and mentor of Adam Smith), and perhaps the first economist in the modern sense, successfully disputed the mercantilists notions of wealth. He did this by providing numerous examples of economic transactions in which profit and poverty changed independently of each other. I am not aware of any intellectual school of thought that has espoused such a view since that time.

In short, the fallacy that lies at the heart of this misconception is that it assumes all economic transactions are zero sum games (every win implies an equal and opposite loss). In reality, the economy would have to be completely closed and static (No value could come in or out of the economy, it could only be moved around--like the conservation of energy) happily, there has never been such a closed and static economy, despite the best effort of some extreme Marxists;

Let us consider the following definitions:

•Wealth is an accumulation of economic value.
•Poverty is a lack of sufficient wealth to meet ones needs.
•Profit is an accumulation of wealth.

Based on these definitions, there are two ways to make a profit. Stealing, in which case you misappropriate another's wealth, thereby increasing your wealth in direct proportion to his impoverishment--theft and charity are the only real zero sum economic transactions.

The second approach to accumulating wealth is to create value. When we are productive we are adding value into the economy (by definition). And by definition the addition of resources (when considered in isolation) can never increase poverty. The only ways to increase poverty is to either destroy wealth, in which case the aggregate poverty increases. Or, to redistribute wealth, in which case the aggregate wealth remains unchanged bug local caches of wealth can fluctuate (some people will get richer and others poorer, but always in equal amounts.)

Adding value to the economy benefits everyone, but may do so to differing degrees. For example, let’s say I invent a process that makes the production of cars more efficient. Doing so will obviously benefit the shareholders, who get to sell more monay, but also now sell more cars. will benefit from an increase in profits. But even if a single company reaps a significant portion of the increased saving, it will not t be at the expense of others.

Answer 4

come on even jesus all those years ago recognised the fact that poverty will never be erradicated when he said 'you will always have the poor with you'

Answer 5

Einstein, in about 1916 predicted, "The 4th world war will be with bows + arrows" Then split the atom a few years later, weird!

Answer 6

Without poverty we will have something else to fight about !
Like " who has got the biggest potatoes !

Answer 7

i believe ww3 is already taking shape, in other words it's already happening though the final blow comes wehn we least expect it.

I hope me and my children will be able to grow old but i don't expect it. However we'll still look owards and plan for the future because I might be wrong

Answer 8

no there wont be a world war 3

Answer 9

If there is another war it will be fought over water which is getting more scarce by the year.

Answer 10

US has already started WW3. we're just waiting for other countries to join in. If this goes on then we're in trouble