5 ms·
There are many things that we cannot be sure about. But I do share his concerns. If wealth inequality keeps growing, this will inevitably lead to social unrest.
by raarts 12y ago
There are many things that we cannot be sure about. But I do share his concerns. If wealth inequality keeps growing, this will inevitably lead to social unrest. And shrinking wealth for the middle and lower classes will deprive many companies of their customers. Or will the top 1% only sell their stuff to each other?
- intended 12y agoWell it's quite possible the top 1% are already selling to each other at huge scales through the firms they own. What really helps is being able to capture new efficiencies uncovered by innovation.
- maerF0x0 12y agoThe 1% will trade our labor back and forth to their gain in a cycle. Eg: a rich person will trade $100 for house cleaning service (basically costs lower/middle class time) for some other service (Casino black jack dealer?). In this way they can both experience the services produced by the lower/middle classes w/o degrading their total holdings. Plus, if they own the things the lower and middle class spend their income on then any money that does trickle down will eventually end up as revenues on the books of an asset they own (walmart or a utility for example). IMO the best ways to break these cycles is to try and buy things from people poorer than you and to try and own as much of the economy as you can. The middle class could buy up much of the economy with little effort-- If 100m people spent ~$3k each they could buy walmart instead of outfitting a home theatre with 60" tv, ps4, accessories and a couch. There'd be some amazing change in america if this kind of thing started to happen. Of course its like all changes though, its hard to get the masses to do anything in unison.