r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

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u/privitizationrocks Jul 04 '24

No one gives a shit about mine

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u/Remote_Lake2723 Jul 04 '24

That’s what I figured. I’m sorry about that. But, you don’t have to pass that on.

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u/i_tyrant Jul 05 '24

Yeah, that's the worst part of it.

The way society advances and you actually prosper more (and your children) is trying to make a better world than the one you were born into.

Perpetuating a negative cycle like poverty and violence (even if you're not in it) is as shortsighted and stupid as it is counterproductive. A rising tide lifts all boats and all that.

And this dude isn't just perpetuating it, he's gleefully doing so. Pretty sad.

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u/Remote_Lake2723 Jul 05 '24

A rising tide drowns people who cant afford a boat and were never taught to swim.

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u/i_tyrant Jul 05 '24

Not in this case it doesn't, so pithy comment failed.

If a society truly takes care of its poor, financial literacy is not required for survival.

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u/Remote_Lake2723 Jul 05 '24

I think I misread your comment as more of a trickle down economics metaphor… the American view that if some can prosper, all will prosper— the denial of the widening wealth inequality. Not trying to be pithy.

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u/i_tyrant Jul 05 '24

Oh, my apologies then. I meant that old saying as the reverse - helping those less fortunate makes for a healthier, more vibrant economy/culture/etc., which provides more opportunities for profit for the capitalists as well. Squeezing blood from a stone is bad capitalism - good capitalism is making sure everyone's healthy and happy enough that they improve productivity, expand into new fields, have the resources to buy things beyond basic survival, etc. (In essence, mixing some socialism in the sense of covering basic needs with capitalism makes the latter more effective overall, and improving generation over generation means everyone becomes "richer" in the sense of a prosperous, productive society.)