The coronavirus pandemic is set to rob the global economy of more than $5 trillion of growth over the next two yearshttps://trib.al/65StRJW
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First of all wealthy people do the most investing and that leads to more businesses and greater output. Profit is a reward for supply something cheaper and better than the rest. Secondly if we measured on happiness and health we wouldn't get very far in development.
Excess profits that are creamed of and hidden away from taxes are an anathema and are pretty common amongst the wealthy. Trickle down economics doesn't work. Boom and bust is a result of rampant misguided speculation. As for development? Clearly you misunderstand the word.
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Excess profits are then invested in things like the stock market which then leads to innovation and lower prices for consumers how is this bad? Boom and bust is not a result of just speculation. It can be caused by speculation but more commonly it is structural change.
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Big busts occur after big speculation bubbles. Profits made from nothing but fantasy.
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