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Honest question. Does income inequality really have any real negative effects? Or is it something socialists like to pick at?
Economic inequality per se (rather than poverty) probably has a few negative effects. The question is whether it's net negative.
The way I see it, the higher the income the guys up top are getting, the better the economy is doing. It’s tied to a growing economy. But what do I know about economics...
Much of it is due to the combination of (a) it's easier to start a new company now and (b) companies grow faster now.
Yes, if you give me information to show me otherwise. Until then, this view is just the one that makes the most sense to me, given the information I have right now. I could very well be wrong though.
It has the effect that only the richest percentile have a chance to see their policies set into law (that part is scientifically demonstrated) thanks to the influence their wealth offers them. Whether that can be good at all in the long term is frankly debatable.
Have you ever heard of “Austrian Business Cycle Theory?” I think it explains why wealth distributions have been skewed lately; & does it from a free market, capitalist viewpoint. In short: artificial credit expansion creates asset inflation; which expands the divide. /1
The problem with inequality is it's self-perpetuating. The rich use their wealth to stay rich, not to make the poor richer. The rental market is the best example of this. Why provide more housing when a shortage pushes rents up?
Its negative if you just envy. It turns positive if you turn envy into energy to make more.
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