Thailand’s prime minister said Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy.
The government announced in April the widely criticized ambitious plan, named the Digital Wallet, meant to give 10,000 baht (about $275) to 50 million citizens in digital money to spend at local businesses.
However, economists have criticized the program, calling it an ineffective way to contribute to sustainable economic growth compared to other measures.
Thailand has in recent years suffered from a sluggish economy that appears to have deteriorated with no clear sign of growth. This month, the World Bank’s Thailand Economic Monitor projected GDP growth of 2.4% for the year 2024.
The house is an asset to Laura because she values it and it acts as an investment because it has value to others and their evaluation may change. If she buys it then she is assuming the risk from Bob that people’s valuation of it may go down or that something might happen to it. If she buys it primarily because she needs a place to live then that risk vs reward is likely less important to her than having a home.
Not involving Bob would be very beneficial in many ways for both Laura and Frank if that can be arranged, any middle man will add cost and without him Laura will pay less and Frank will earn more. The problem is Laura may be busy and not have time to find Frank, buy all the building supplies, and wait for the house to be built. She also avoids the risks involved with the building of the house (e.g. it turns out different than the plan and she hates it, it takes longer/ requires more parts and the cost goes way up, etc.) By having Bob involved her experience becomes vastly smoother, she gets to show up, see the finished product, say “I like it and I’m willing to spend this much on it”, and start moving in the next day.
If you can manufacture a lightbulb that lasts 100 years and price it reasonably you can absolutely start competing with light bulb companies. You may not make as much per customer over 100 years time, but if you convince enough of their customers they’ll save money with you then you’ll make a killing. Some types of investors are very willing to gamble on potentially disruptive ideas like that. The existing lightbulbs companies and their shareholders do have the exact lack of incentive to innovate you talked about but that doesn’t necessarily stop a new actor.
I completely agree that an unregulated market will tend towards greed and cause immense suffering. Ideally that’s one of the primary purposes of government, (unfortunately mine hasn’t functioned that way at all for my whole lifetime) but an entity that is “for the people by the people” which can intervene when greed could cause harm, ensure human rights and needs are provided for, and pull the correct levers to ensure the economy has both enough investment and healthy labor compensation to keep generating value (and to ensure the value generated actually ends up in the hands of the people) is absolutely critical.
I also totally agree with the fact that it’s critical to have other value systems besides money. In a small way I believe what we as individuals place value on and encourage in our communities has an impact. Obviously it won’t solve the issue or make society pivot in a dime, but it’s important nonetheless. Glorifying wealth and those who have it, entertainment factor, and fame/ infamy and losing sight of concepts like civic duty and an obligation to your community, society, or polis has consequences. I understand feelings on patriotism being complex as it’s been co-opted as a hateful concept by nationalists in many places but embracing more collectivist and less individualist attitudes at all levels of society help reinforce other value systems besides late stage capitalism
Hehe, I know what a house is, the issue I was bringing up was why is it an investment, if the person absolutely needs it (assuming it’s the house to live in).
And no, that’s false analogy, not Bob the builder or Bob the manager, that’s just another employee payed the same as other workers - Bob the shareholder is the party benefiting here (capital as a production factor).
Perhaps more illustrative: “Bob the me” who just clicks and buys an xtrackers or ishares etf funding hundreds of Bobs the worker (“CEO”) and demanding profit growth from them or we will find someone who will. All without me knowing anyone’s names.
That’s why I ask why is her house an investment in the first place.
Ah, the fabled disruption tactic - which doesn’t add value, but with sheer force of capital transforms the free market into a monopoly. Investors love that shit.
Eg it’s not like Uber was a new idea that would ever be profitable, investors dumped insane amounts of money into a company hemorrhaging even more money all in the promise that at some point other market players (regular Taxi folk) will go bankrupt & Uber can start charging profitable prices. Which happened where local lawmakers didn’t block it (also because they basically funded themselves on not paying their “employees” any benefits). And now Uber costs more than the Taxies ever did.
And no, 100 year light bulbs cannot be done, and that’s not due to lack of materials or knowhow.
Just BTW, not an example or claim for the above, tho documents show companies decided to shorten lightbulb lifespans. \
And I also think that “voting with your money” isn’t democratic unless on a very small scale (“village”), because in a lot is things you simply don’t have a choice if you want a normal life.