I recently saw a meme, and the content was something like:
In the near future, a meteor will 'hit' the Earth, and there will be gold rain, and hence everyone will be rich
The ridiculous thing with this is that if everyone has tons of gold, then gold becomes worthless, so in terms of poverty, nothing would change.
This got me thinking!
It is clear that you cannot solve poverty by giving poor people money because than the money would loses its value, and prices go up (since also you would need to print heck a lot of money). However, one thing that might work is if everyone had a job with decent salary. Then, everyone would earn enough money to have decent life.
However, this got me thinking even more!
This solution implicitly assumes that in such a case, everything would be the same except now everyone has enough money to support themselves, but if everyone has a job with a 'decent' salary, say a job with at least paying \$1000 per month, then the values of the money would (or could) drop because everyone has that \$1000, so then \$1000 wouldn't become a 'decent' pay, and not everyone would be able to support themselves with that much money now.
(same thing ...) even more!
Question: Is not having and poor people mathematically possible ?
If you think about it, the very fact that something is valuable, such as gold, depends heavily one the fact that not everyone has that item. Moreover, if all the wealth was distributed equally, and not allowed any imbalances, then we wouldn't be event survive as human species, but any imbalance would results in someone getting richer and some other getting poorer; and this means with some extreme exceptions, the existence of poverty is ensured mathematically.
Guys, you are obscuring the core problem in here by dealing with specific details; forget money, thing in terms of wealth. There is some total wealth in the economy, and assume that there is some poverty threshold of in terms of wealth (it does not matter how this wealth is distributed or kept in practice i.e in terms of some money, gold, or silver; it does not matter.) What is this threshold.? we don't know, and we don't have to know for the time being. The analysis will show in what conditions, such a threshold can exists, and there can be no poor with respect to that threshold (of course, we then have to check, when we interpret our results in terms of real money whether that threshold corresponds to a "decent" one).