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It's not like the money vanishes into thin air, wealthy people throwing their money at anything is a desirable outcome vs. say hoarding it.
by pengaru 2y ago
It's not like the money vanishes into thin air, wealthy people throwing their money at anything is a desirable outcome vs. say hoarding it.
- tbrownaw 2y agoHow exactly would one "hoard" money these days? Even if it's just sitting in a bank, that still translates to getting lent out at whatever interest rate that bank charges.
- francisofascii 2y ago> How exactly would one "hoard" money these days They buy real estate and sit on it. Since land taxes are so low, you can make money without actually doing anything with the land.
- mistrial9 2y agothey call that "velocity" of money? it means a rate at which money circulates in some wider way.. it is well-known in some theory circle IMO
- HPsquared 2y agoFinite resources (mostly, peoples' time) are expended.
- codr7 2y agoSo just because it's better than nothing we should consider it good enough?
- dan_mctree 2y agoIf all the wealthy would band together to spend their money on convincing every farmer to write software instead, then we'd all starve