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The best way to build economy is to give money to those without. Then they spend it. Trickle Down is bullshit. Bubble Up is the one that works. The rich still g
by djbusby 3y ago
The best way to build economy is to give money to those without. Then they spend it. Trickle Down is bullshit. Bubble Up is the one that works. The rich still get theirs - but less and after the money has passed through a few hands.
- BobbyJo 3y agoWe just tried that and inflation exploded.
- SketchySeaBeast 3y agoSomehow a lot of haves were mixed in there too, which may have been the problem.
- deleted 3y ago[deleted]
- dfxm12 3y agoIt sucks that we had to pay 1.5x as much for a dozen eggs during and shortly after that global pandemic, but put blame where it is due, and it is not really due to your neighbors getting pandemic relief. https://thehill.com/business/economy/4057722-greedflation-is-the-new-inflation-as-corporate-profits-balloon-report/ https://thehill.com/business/economy/4057722-greedflation-is...
- BobbyJo 3y agoI don't get what point you're attempting to make. Your comment suggests you think inflation came from from pandemic (a loss in productivity?), the the link is about corporations sopping up the extra cash that was floating around via raising prices. The latter would fall into the bucket of government handouts to the bottom cause inflation, would it not? If you're skipping the monetary interaction and saying "it's not the handout, it's the greed", then I'd like to point out that companies have been behaving the same way forever (trying to maximize profits), yet inflation has been low for a decade. That corporations would take advantage of poor people having more money to spend is intended behavior, and something that needs to be accounted for in functional monetary policy.
- KittenInABox 3y ago> companies have been behaving the same way forever (trying to maximize profits), yet inflation has been low for a decade This isn't true. Companies only started to maximize profits under shareholder value recently. Corporations originally were thought to have a responsibility to society at large, thus with things like pensions being provided to their employees. Additionally, the small handouts to the poor are much more dwarfed by handouts to the employers at the time. Which made it baffling that large employers then raised prices anyways, when they already got the vast majority of covid relief money. No, it is pure greed.
- djbusby 3y agoYea. Tax those corporate profits and tax those wealthy C-suites. Then the taxes help those on the bottom rung; and the circle continues. Accumulation at the top blocks the flow.
- xedrac 3y agoThis says nothing of economic output. If you just hand out money to people, that has an economic output of zero. Short term this might work, but long term, I believe it would shrink the economy, and leave it saddled with people that don't produce according to the markets' demands. Why would they?
- coliveira 3y agoPeople who don't produce anything and live from getting money to spend... I think you just described the rich!
- nickpp 3y agoHow did they become rich then?
- djbusby 3y agoWhy wouldn't they? Do you think folk would just sit on ass after getting the handout? Would you? Some, perhaps - but they sit on ass now - and have no social safety net or anything, they outdoors. The human condition is to endeavour. Even with free money the majority of folk will work, or do something to improve their situation.
- xedrac 3y agoI would certainly keep myself engaged and busy with my hobbies. But that is unlikely to produce anything of real value for anyone else.