Paul GrahamVerified account

Demagoguery is never a solution to anything.

There is a book called "The Tyranny of Experts" by William Easterly. I think you might like it

Not sure I understand the lingo here. What is “consumption expenditure”? What are they saying in layman’s terms? Redistribution of wealth works/doesn’t work? Rising tide lifts all boats?

This article uses so many words to say: in a country where the consumers have more money they will also have less poverty.

Yes and no. For some supply chains, greed is the culprit. For example, it’s possible to pay farmers in the cocoa supply chain a living wage and lift them out of poverty. There is enough margin in the chain. That margin just needs to be allocated more fairly.

Poor Economics by Abhijit V Banerjee & Esther Duflo has a better take at this, handing money with training can be more effective. ‘The poor’ has to manage money much more efficiently than any other economic class. Hence it is said it’s expensive to be poor.