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That’s only true if the holder of that money decides to spend it on creating jobs, which are almost invariably the largest single expense in any business. Tric
by headmelted 6y ago
That’s only true if the holder of that money decides to spend it on creating jobs, which are almost invariably the largest single expense in any business.
Trickle-down economics depends on progressively better paid work and more of it, while the incentives for businesses are to have as few people on payroll for as little compensation as possible.
- eecc 6y agoThat’s why you need to force reinvestment with corporate taxation, and subsidizing innovation with de-risking, either via direct state investment or via reduction of labor cost (UBI, unemployment benefits to compensate for looser contracts.) I think this is the gist of Mazzucato’s views