Explain how higher saving leads to a higher standard of living?
You are basically forgoing consumption in order to buy something. In some cases it may be a holiday, and that does not increase living standard. However, is other cases it is capital, and that means you can produce more, so you can sell more and get more money, so you can consume more, and everybody wins!! :) eg. you own a farm and you make $60,000 a year. You save $20,000 by only spending $40,000 to upgrade your irrigation system which save you 5 hours of work a week, and is less hard on your body. That gives you an extra 250 hours a year which you spend shearing for $30 an hour giving you an extra $7500 a year. This means that you add an extra $7500 dollars worth of living standards per year, or you can work for 250 hours less a year. Either way, your living standards increase
Does South Korea have higher standard of living than Netherlands and Germany as they have higher household income?
South Korea doesn’t seem to have higher standard of living than Netherlands and Germany.At first, GNI per capita is certainly lower than those of Germany and Netherlands. Actually it’s difference is more than 10k US dollars. GNI per capita of Korea is almost same as Italy’s.List of countries by GNI (nominal, Atlas method) per capita - WikipediaIn aspect of Life expectancy, SK is slightly longer than those of them.List of countries by life expectancy - WikipediaFinally, by World Happiness Report, it’s so shameful to show you this data as a Korean. I can’t even compare those countries.World Happiness Report - Wikipedia
Whose citizens live a better life, India or North Korea (only Pyongyang)?
Better life in which way?Is the provision of the basic amenities taken as a measure? or Infrastructure ? or is it freedom of speech?Since you already disembark all the cities from the capital, I will be comparing Pyongyang with rest of the Indian major cities.With respect to Infrastructure, NK capital has better built roads but they are unused.In providing basic amenities and personal freedom, there is vast disparity between them. Indians quality of life outstretches the Pyongyang’ans in almost every aspect of life.Pyongyang vs Indian cities :MumbaiA common people’s home in PyongyangA Middle class home in India:Pyongyang Street:Indian Street;Pictures tells you facts.
Can capitalism exist without poverty?
No, I am quite certain that it cannot. Especially since poverty is relative. In Socialism everybody could become equal, and poverty would be wiped out as long as people only compared themselves to their compatriots. Whereas in a Capitalist society theoretically the poorest person in the country could be much wealthier than the people in the socialist country but would still be considered living in poverty since they had far less than everybody else.
Between India and North Korea, in which country the ordinary people have better life?
Thanks for the a2a.I have never lived in India myself but I do know that many people in India (and also Bangladesh and other countries in the sub-continent) suffer from extreme poverty (which I believe is defined as living under $1 per day). Thankfully, I have never lived in North Korea either!Based on what I have read about both places, I would say North Korea is by far much more difficult to live. This is because the political system makes the things people typically do to escape from poverty extremely difficult. Everything in North Korea is highly regimented and the level of control over people's daily lives is suffocating. Also, North Korea is completely isolated economically from the rest of the world. This makes it impossible to do things to escape poverty such as:1) Move to a city and get a job as a laborer or in a sweatshop. The government tightly restricts where you are allowed to live. Nike and others do not have sweatshops in North Korea.2) Get a microloan for a goat or cow. There is no private financial system that allows this.3) Find work outside the country. The government tightly controls who gets to leave.Some good books on how ordinary North Koreans cope with this can be found here:Hanhwe Kim's answer to What is daily life in North Korea like for the average, non-privileged person? Another more personal account is the autobiography Young-bok Yoo, one of tens of thousands South Korean POWs who have been detained in North Korea since the end of the war. The POWs were forced to work in the mines and they and their children are the lowest caste in North Korea. A Korean POW's Fight for Freedom, Family, and Justice: Young-Bok Yoo, Paul T. Kim: 9781479383856: Amazon.com: Booksdisclaimer: I work for the NGO(human rights advocacy for South Korean POWs in North Korea) that published Mr. Yoo's book and my son is the translator.Yoo actually manages to survive a "self-criticism" session where he was accused of being an anti-communist when he was in South Korea. He gets a technical job which is far less strenuous than laboring in the mines. He even manages to get a goat for his family that provides milk. So it is possible to build a life from the lowest and destitute states even in North Korea by working hard and being extremely smart and a survivor. Yoo also manages to survive the famine of the 1990s and later escape to South Korea so he is definitely not your typical person!
Capitalism killed 1.6 billion people? I just got this, what do you think?
And the Japanese didn't have anything to do with it? They bombed Pearl Harbor. North Korea invaded South Korea. In World War II, Hitler was not a capitalist, and he started the war. I could go on but it isn't worth it. You listed all these incidents even though capitalism had nothing to do with it. This was a waste of time. z
Does capitalism work?
Africa was exploited by capitalists and now the capitalists have exploited all loopholes so African nations have no fair play in capitalism because they can't afford it, it's a catch 22.... Hong Kong and Singapore are port cities and though they don't have much land, they have other equivocal amenities such as open sea access (I should have used land in the metaphorical sense --- any commodity in place of land? same thing