Tag: zero-sum game fallacy
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“You cannot abolish poverty unless you also abolish affluence.”
(This line is a quote quoted in a blog post over at the Origins website yesterday called Abolishing Poverty. Here is the comment I offered in response.) “You cannot abolish poverty unless you also abolish affluence.” This statement is part of the zero-sum game fallacy of economics. A zero-sum game envisions a fixed quantity of…
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Economic Fallacies: “Zero-Sum Game”
The Zero-Sum Game Fallacy views wealth as a fixed quantity meaning the only way someone gets wealthy is at someone else's expense. There are three possible types of games in the world. First, there is the lose-lose game. There are not many examples of this one. I always think of the 1983 movie War Games…
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Economic Fallacies: “Biblical Redistribution”
The Biblical Redistribution fallacy identifies wealth equalization as the primary economic concern of the Bible; the Jubilee Code of Leviticus 25 is the most exemplary passage. Based on this perspective, public policies ranging from tax rates to debt cancellation for developing nations are advocated. These policies may be worthy and appropriate, but that is distinct…