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Busting the Myth of ‘Welfare Makes People Lazy’

Summary:
Cash assistance isn’t just a moral imperative that raises living standards. It’s also a critical investment in the health and future careers of low-income kids.Welfare helps people work” may sound like a strange and counterintuitive claim to some. But it is perfectly obvious when the word people in that sentence refers to low-income children in poor households. Poverty and lack of access to health care is a physical, psychological, and vocational burden for children. Poverty is a slow-motion trauma, and impoverished children are more likely than their middle-class peers to suffer from chronic physiological stress and exhibit antisocial behavior. It’s axiomatic that relieving children of an ambient trauma improves their lives and, indeed, relieved of these burdens, children from poorer

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Cash assistance isn’t just a moral imperative that raises living standards. It’s also a critical investment in the health and future careers of low-income kids.


Welfare helps people work” may sound like a strange and counterintuitive claim to some. But it is perfectly obvious when the word people in that sentence refers to low-income children in poor households. Poverty and lack of access to health care is a physical, psychological, and vocational burden for children. Poverty is a slow-motion trauma, and impoverished children are more likely than their middle-class peers to suffer from chronic physiological stress and exhibit antisocial behavior. It’s axiomatic that relieving children of an ambient trauma improves their lives and, indeed, relieved of these burdens, children from poorer households are more likely to follow the path from high-school graduation to college and then full-time employment.


Busting the Myth of ‘Welfare Makes People Lazy’


Poverty isn't a lack of character; its a lack of cash.


When people were given some money, it helped them to overcome learned helplessness. They became more motivated, found work,  and many went back to college. And they did less drink and drugs. 




https://youtu.be/ydKcaIE6O1k



Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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