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> Another economical fallacy. What I meant is: this money is not used to promote consumption (which it were in the hands of poor people). It's consumption (of
by frank_boyd 13y ago
> Another economical fallacy.
What I meant is: this money is not used to promote consumption (which it were in the hands of poor people).
It's consumption (of services or products) that creates jobs.
Jobs get created because there is demand for something, not because some rich elite decides they can invest (because they have money). Investment does not depend on the existence of some rich elite. "Trickle down economics" was a joke created by a couple of rich people, to justify and protect the inequality.
Investment can easily be accomplished by "the crowd", and it should.
- ekianjo 13y ago> Jobs get created because there is demand for something In the modern society, you are beyond the natural "needs" of the population and you don't need any of the new products that are sold to you. Obviously nobody needed a iPhone pre-2007 and now suddenly everyone has to have one. There's nothing such as "fixed demand". Demand is created by new products, designed by rich elites or companies that can manufacture them and need significant investment to make them a reality. And the "crowd" investment system already exists, by the way. It's been around for 300 years, it's called the stocks exchange.