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bogus comments on Open Thread June 6 - June 12, 2016 - Less Wrong Discussion

4 Post author: Elo 06 June 2016 04:21AM

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Comment author: bogus 13 June 2016 04:47:58PM 0 points [-]

At this point the issue is, basically, economic efficiency. If you give $X to a group of people, what happens to their economic output? If it did not grow by at least $X

That's not how economics works. People differ massively in the value they would put on the marginal dollar that they earn, and this is the main reason why giving some "free" money to low-earners can make economic sense, even if that money is raised via taxes.

Comment author: Lumifer 13 June 2016 05:08:40PM 0 points [-]

People differ massively in the value they would put on the marginal dollar

Yes, of course.

giving some "free" money to low-earners can make economic sense

When you say "make economic sense", what do you mean? If you mean that the aggregate utility of the society would increase, that's not how economics work.

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