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Germany is the perfect example of how a country being very wealthy doesn't necessarily mean the people are equally wealthy as well. Someone else here called it
by FirmwareBurner 3y ago
Germany is the perfect example of how a country being very wealthy doesn't necessarily mean the people are equally wealthy as well. Someone else here called it "a rich country of poor people".
You might have high salaries, but if all those high salaries get eaten up by various rent-seeking schemes and businesses along the way leaving you with no wealth to your name and only making the country and businesses rich.
- soco 3y agoSome time ago making businesses rich could have mean making also the people richer, trickling down might have been happening to some extent. Nowadays though with Bahamas and all the fancy financial tricks, those two things have been definitely decoupled.
- FirmwareBurner 3y agoIt stops trickling down when all the wealth and productivity gains of workers end up in the pockets of shareholders instead of workers. And since German companies don't usually reward all their workers with stocks/RSUs, the purchasing power of the average German has been on the decline for the past 30 years.