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Simplified version? The entire argument one of an economic simpleton. Startups, ie Innovation, is of course good, it is almost entirely responsible for econom
by jacknews 11y ago
Simplified version? The entire argument one of an economic simpleton.
Startups, ie Innovation, is of course good, it is almost entirely responsible for economic growth (simple population growth being the other).
The inequality question is about how to distribute the benefits.
Especially with tech startups the benefits have gone disproportionately to the founders or early investors.
Particularly when these startups "disrupt" an existing industry that employs many, then that is clearly problematic. Additonally, capitalism itself delivers the most gains to those who already have.
Of course some degree of inequality is entirely fair, but much larger taxes on the rich (preferably in the form of pre-distribution) do not stop the rich wanting to do what they do, but if handled properly, can vastly improve the lot of the poorest and give a helping hand to those who want to advance themselves but can't afford it.