Saturday, May 02, 2015
Proportion of charity for a person
An adult man should be able to support himself and his
family for the basic needs. Here the minimal basic needs may be considered as
food, shelter, required clothing. Ideally he should be able provide more than
50% of such minimal basic needs. However, the tolerable limit may set to be 20%
[well inspired by pareto’s 80-20 rule]. So he has to earn atleast 20% of basic
needs, the rest may be provided by charity(i.e. private or govt)
Labels: economics