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Except that time and time again, it has been shown that it absolutely does not work. "[I]f the income share of the top 20 percent (the rich) increases, then GD
by gzer0 7y ago
Except that time and time again, it has been shown that it absolutely does not work.
"[I]f the income share of the top 20 percent (the rich) increases, then GDP growth actually declines over the medium term, suggesting that the benefits do not trickle down. In contrast, an increase in the income share of the bottom 20 percent (the poor) is associated with higher GDP growth. [1]"
[1] https://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2016/12/31/Causes-and-Consequences-of-Income-Inequality-A-Global-Perspective-42986 https://www.imf.org/en/Publications/Staff-Discussion-Notes/I...