Comment by WalterBright
3 hours ago
In capitalist countries, accumulation of wealth comes alongside the prosperity of the rest of the country.
3 hours ago
In capitalist countries, accumulation of wealth comes alongside the prosperity of the rest of the country.
Ah yes, the famous "trickle down" economy of Reaganomics. If only we had more billionaires, then I'm sure I'd be able to afford to get my car fixed.
Unfortunately, this economic model has been proven to be wrong. If it were true, then we would have seen a decreasing gap between the rich and the poor. We didn't.
https://www.statista.com/chart/35953/inequality-wealth-gap-u...
https://www.theguardian.com/commentisfree/2022/oct/09/why-is...
> Unfortunately, this economic model has been proven to be wrong.
As I've mentioned several times now, the growth of the wealthy in the 19th century corresponded with the movement of the poor into the middle class.
> If it were true, then we would have seen a decreasing gap between the rich and the poor.
What matters is the state of the poor, not the gap between rich and poor. Musk's wealth, for example, has no effect on my standard of living. Or yours.