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But think of the trickle down effect. If rich people can't buy yachts, a rich yacht manufacturer can't reap profits while paying minimum wage to it's workers.
by aequitas 6y ago
But think of the trickle down effect. If rich people can't buy yachts, a rich yacht manufacturer can't reap profits while paying minimum wage to it's workers.
- lukifer 6y agoThis is the hat-trick of the "job creator" myth. Narratives have no numbers attached; the quantitative delta between luxuries, and the jobs they allegedly create, belies real economic energy transferred from those living paycheck-to-paycheck, to those who signify status through conspicuous consumption. Don't get me wrong: I'm not saying every purchase needs to pass some utilitarian moral litmus test; and sometimes luxury spending can have positive externalities, particularly when it incentivizes innovation. But we shouldn't pretend that gold-plated helicopters are inherently a win/win/win just because some subsistence wages got paid along the way, when we could have collected the same revenue as taxes and paid those wages for building infrastructure instead.
- znpy 6y agooh don't be silly