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Feb 24, 2021
10:09:21am
Cougarclaw Truly Addicted User
Russia did something like this once, right after the Soviet Union collapsed

Russia was not able to maintain the massive number of assets and bureaucracy that caused the Soviet union to colapse so they went through an unprecedented privatization effort. Equal Ownership shares of huge swaths of public entities were evenly distributed to all Russian citizens. 

So what happened? Here is wikipedia's description:

The vouchers, each corresponding to a share in the national wealth, were distributed equally among the population, including minors. They could be exchanged for shares in the enterprises to be privatized. Because most people were not well-informed about the nature of the program or were very poor, they were quick to sell their vouchers for money, unprepared or unwilling to invest.[citation needed] Most vouchers—and, hence, most shares—wound up being acquired by the management of the enterprises. Although Russia's initial privatization legislation attracted widespread popular support given its promise to distribute the national wealth among the general public and ordinary employees of the privatized enterprises, eventually the public felt deceived.[15]

 

In the same way, if you redistrivuted all the wealth in the country evenly, it would be a short time before the wealthy become wealth again, and the poor become poor again. With some obvious exceptions, but you can see from the Russian experiment, that after such a national gift of wealth, the people felt like victims. Imagine that. 

Cougarclaw
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