3 ms·
When middle class (mc) person #1, drops to lower class(lc), and lc #2 drops to homeless, there's less money available from a or b to pay for goods that pay the
by gremlinsinc 4y ago
When middle class (mc) person #1, drops to lower class(lc), and lc #2 drops to homeless, there's less money available from a or b to pay for goods that pay the wages of mc #3, so there's a downward push where #3 now gets fired and becomes lc, this is happening all across america, and ai can just about replace every customer service agent at this point, if they all retrained as programmers - supply/demand would make programmers worth 10k/year. We'd essentially be like India, except home prices would way more unattainable than they are now.
You give money to the bottom, it cycles back up to the rich through landlording, goods sold, etc.