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Or the argument can be made that the world is moving away from poverty at the back of 1%ers. The point being that 1% is getting richer than the average person o
by splintercell 9y ago
Or the argument can be made that the world is moving away from poverty at the back of 1%ers. The point being that 1% is getting richer than the average person of their own country, by lifting the poorest person of a poor country upwards.
The only loser here is the middle class of rich countries, not middle or poor class of poor countries.
- collyw 9y agoCorrelation doesn't imply causation, or ave you got any supporting evidence of that?
- sokoloff 9y agoThe middle class in America today is wildly, wildly better off than 100, 50, 25, or 10 years ago, IMO. 100 years ago, they didn't have phase-change refrigeration, instead relying on ice. (That's why your grandmother might still call it an "ice box".) 50 years ago, they didn't have air conditioning. 25 years ago, they didn't have cars that would reliably run for 250K miles with airbags, anti-lock brakes, traction control, and which required very regular servicing to keep running. 10 years ago they probably didn't have a smart phone with the world's information in their back pocket. All of those things are now readily affordable and very commonplace in the middle class.
- ttoinou 9y agoAll great results of relatively free markets. And we have people complaining about housing and healthcare.... I know the solution to theses issues