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No they haven't. The premise is "had growth rates among the quintiles remained as they were post-war, then..." That is nothing like "one quintile has taken fr
by Wolfenstein98k 6y ago
No they haven't.
The premise is "had growth rates among the quintiles remained as they were post-war, then..."
That is nothing like "one quintile has taken from the others".
Growth rates change all the time, and the transition from a labour economy to a knowledge economy has the effect of reducing the pool of "winners" as the returns to knowledge form a greater share of total returns.
This same transition is visible in most developed countries. Some have welfare systems designed to prevent it, and their overall growth is lower for it. They contribute less of the global groundbreaking progress (like new cancer treatments, Covid vaccines, etc) commensurate to that fact.
This is a false premise. Do not fall for it.
Just because you are in a group whose growth rate has been higher than the other group, doesn't mean you "took" something from them.