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Decem: Financial Alternatives For Development Aid (6)

Written on July 5, 2007 by Max Oliva in Development

J.Pozuelo-Monfort, MSc candidate in economic development at LSE.
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The non-effort related income
Non-effort related income is undeserved income. Non-effort related income is freely given, in a favor-driven system that reminds a feudal regime of the Middle Ages, rather than a democratic and globalized world of the XXIst century, a world of future possibilities.
The economic paradigm of the capitalist system is focused on rewarding personal effort. The mythical American dream is nothing else than the economic reward of the effort undertaken by those who are able to move forward in a fair system, a system of meritocracy that rewards the effort and barely relies on luck, a system that connects effort with prosperity. Effort will necessarily lead to a better world. Effort will undoubtedly compensate the gap created between the South and the North, a gap that has only stressed the grand evils that punish a majority of the population.
We cannot live in a society with individuals that devote their full time to live on the income inherited from their ancestors. We cannot live in a society in which certain privileged are in charge of spending their free time with extravagant habits thanks to the monies inherited from their older ones, while millions of individuals live in extreme poverty, with the sole hope of not passing away on the short run.
Today’s world is a different world. Today’s world is a globalized world whether we like it or not. We cannot benefit from the positives of globalization in expense of not compensating the negative impact they cause.
Continue reading Decem 06

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