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Inequality doesn’t really matter as much as people think. What inequality does is ensure that there will always be two markets of consumers: one that needs goo
by xwdv 6y ago
Inequality doesn’t really matter as much as people think.
What inequality does is ensure that there will always be two markets of consumers: one that needs goods at low prices and one that can afford higher prices for luxury goods.
As long as the lower price market exists, hoarding sufficient wealth guarantees you’ll be able to at least afford the minimum standard of living, allowing you to safely retire. If everyone was wealthy everything would be expensive and then no one would feel wealthy enough to retire.
- benrbray 6y ago...what about the people who can't "hoard sufficient wealth" because it's all been sucked from the market? ...what if "health care" is viewed as a luxury good as it is in the statse?
- aprdm 6y agolol. It doesn't matter much if you're not the one in the lower bracket.
- pietrovismara 6y agoYes, thank you for telling us that capitalism needs poverty to exist.