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I would argue because the relative utility is higher. A higher percentage change in that person's purchasing power. OP though was arguing that that poorer peop
by aqme28 5y ago
I would argue because the relative utility is higher. A higher percentage change in that person's purchasing power.
OP though was arguing that that poorer people will spend it better, which might be true as well since the rich tend to hoard.
- WalterBright 5y ago> the rich tend to hoard Ironically, it's poor people that hoard cash in a can or a mattress, not rich people. Rich people invest it. Even cash in the bank isn't cash in the bank, the bank promptly loans out a multiple of it.
- simonh 5y agoThe $1 is relatively more valuable to the worker than the millionaire, but is it more valuable to the economy? I intuitively suspect so, but I don’t know why and I also suspect intuition could easily lead us astray on this.