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> They're not stuffing it in a mattress How do people get (and stay, and get ever more) rich if not by accumulating wealth? They aren't stuffing it under a mat
by Doxin 1y ago
> They're not stuffing it in a mattress
How do people get (and stay, and get ever more) rich if not by accumulating wealth? They aren't stuffing it under a mattress, no, but they also aren't spending it significantly.
What do you expect a millionaire to do if you hand him $10? how about giving a homeless person $10? My intuition is that money is going to get spent a lot quicker by the latter.
We've tried trickle-down economics and it clearly doesn't work. Let's try trickle-up economics for a while, see what that does.
- AnthonyMouse 1y ago> How do people get (and stay, and get ever more) rich if not by accumulating wealth? "Accumulating wealth" and "not spending the money" are two entirely different things. If you have a million dollars and use it to build and operate a factory and then the factory makes things you can sell for two million dollars, your wealth has increased by a million dollars, but in the meantime you've spent the entire million dollars you started with on building and operating a factory. And the next thing you're going to do is spend the two million dollars in order to make four.