Comment on All billionaires under 30 have inherited their wealth, research finds
UnderpantsWeevil@lemmy.world 6 months agoand have enough money to quite literally solve most of the world’s problems
That’s true-ish from a strict finances perspective.
But consider the island of Haiti. We could “solve” the problem of chronic poverty on the island by simply showing up with boatloads of food and clothing and other consumer goods. But it would be a temporary fix, at best. A real investment - just on this tiny island - would mean large scale infrastructure improvements. And that takes an enormous amount of materials plus labor plus the logistics to move it all and assemble it.
What we’re describing isn’t strictly a monetary problem. Its an engineering - and, to a greater extent - economic organization problem. Showing up with bricks of cash would be less beneficial than dredging their harbors and building out new power plants and fixing all the damage done by the last big earthquake. And that latter bit requires real engineering, which requires education, which requires skilled professionals willing to bring Haitians in and train them in the work necessary to improve the island.
And while we probably could perform a project like this across Haiti, by employing the Billionaire Money + Excuse Unused Capacity of global industry, I question whether we could do it globally. Not without reorienting an enormous amount of our existing infrastructure towards these tasks.
When people talk about “market economy v command economy”, this is the kind of problem they’re really facing off against. Not just “how do we pay for food?” but “how do we organize the supply chain from the farms/fisheries to the dinner tables?”
We could “fix” Haiti’s problems with far less than we’re currently spending to control their population. But that would mean building large earthquake resilient housing, energy, and transport components. And those buildings would divert the labor supply from making cheap textiles and agricultural goods. And that would mean people who buy cheap from Haiti’s functionally-still-enslaved population wouldn’t get to 100x mark-up the end products when they were sold in the US at American retail rates.
That’s what we’re really discussing when we talk about “billionaire wealth” versus “solving the world’s problems”.
Do Haitians get to live for themselves? Or do they spend all their waking hours making life cheaper for other people?
Showing up with bricks of cash would be less beneficial than dredging their harbors and building out new power plants and fixing all the damage done by the last big earthquake.
Show up with bricks of cash, and harbor-dredgers, electric generators, and construction companies will be racing each other to figure out how to get them from you.
construction companies will be racing each other
Construction companies run by billionaires aren’t going to be lining up to rebuild the third world, when they profit from it staying demolished.
Toussaint Louverture’s Ghost haunts that island, and guys like Bloomberg and Koch won’t be happy till it’s fully exorcised.
Nasser’s Egypt, Mosaddegh’s Iran, Pinochet’s Chile, Kim’s Korea, Castro’s Cuba? They’re not getting rebuilt at any price.
UnpluggedFridge@lemmy.world 6 months ago
Connect your circle of thought. If we buy Haiti a bunch of food and deliver it, we have created the jobs and infrastructure to solve the issue precisely in the manner you describe. We have redirected the economy to solve the problem. You seem to take issue with the idea that the solution did not arise from capitalist market forces. Well no shit, that’s kind of why we have the problem.
UnderpantsWeevil@lemmy.world 6 months ago
We’ve created an import market, which is good for folks who aren’t Haitian who are shipping to the island.
But we haven’t created points on the island to receive the new cargo (their port system is in shambles) or distribute it (roads still wrecked from the earthquake, very few warehouses or retail facilities to distribute to local populations) or use it (no reliable electricity or housing).
Just the opposite. I believe capitalist market forces are a big reason why Haiti remains poor. Keeping the majority of the population clustered along the coast and forced to compete for sweatshop jobs at the lowest conceivable bidding rate means foreign firms have monopolized the labor capacity of the island while denying them the ability to develop their own domestic capital (roads, power, housing, etc).
Getting construction materials to the island, along with skilled engineers to both rebuild shattered infrastructure and train up locals to maintain/expand on what was built, is the only real path to prosperity. And its denied to the Haitian people deliberately, in order to keep them subservient and to enrich the folks exporting their labor product off the island for pennies on the dollar.