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But Gary, Indiana has a lot more room. In addition, the new well-off people will need coffee, and cars, and groceries, and be able to pay for them. This will re
by RcouF1uZ4gsC 7y ago
But Gary, Indiana has a lot more room. In addition, the new well-off people will need coffee, and cars, and groceries, and be able to pay for them. This will rejuvenate other jobs. With more people with money who can now afford tickets and buy merchandise, maybe more bands will start playing in Gary, Indiana, improving the music scene. With more people with more disposable income, maybe some of them will be interested in local artwork. Now artists can move and live in Gary, Indiana.
In addition, well-off people are interested in making sure their kids get a good education. So maybe they start pushing the city to improve public education. In addition, the increased home values and increased businesses are likely to result in greater increase in tax revenue, allowing more money to go to education.
And the nice part is that Gary, Indiana got these benefits without having to try to bribe a large corporation to open an office with tax giveaways.
You may or may not have more inequality, but I would argue that the people in Gary would be better off.
- onemoresoop 7y agoAbsolutely agree that their local economy would get better.
- taurath 7y agoHow is it different than trickle down economics? Won’t those coffee shops just be starbucks and grocery stores be Whole Foods and all the profit from them returned to shareholders?
- xmprt 7y agoWhat's the alternative? Everything stays the same? How would that help their economy?
- missedthecue 7y ago"Trickle down economics" is just an internet slur for supply side economics. It certainly can work out well. A job at Whole Foods would pay a currently unemployed resident of Gary, Indiana a good amount more than he is making at present.
- mcntsh 7y agoThat's a pretty limited perspective. Economic growth doesn't benefit every business and every individual proportionally. I know people in the Bay Area who are worse off now than they were in first dotcom burst because while software engineers might make 300% now of what they made in 2002, an auto mechanic doesn't. For many, wage growth didn't even keep up with the cost of living.