Agreed in principle, however in practice great wealth/income inequalities tend to compound.
Wealth and political spending bleeds into decision-making, leading to policies that benefit the wealthy at the expense of the less so.
“Excess wealth” tend to disappear from ‘Main Street’ and the kind of normal circulation that directly generates +life_quality, into Wall Street circlejerks.
“Excess wealth” also tends to seek safe harbor in concrete assets. Every investor tilts eg. the supply and demand of housing a bit more into the demand side, which leads to rising costs for people wanting to buy a house to own, since the supply of good lots can’t increase as much.
Agreed in principle, however in practice great wealth/income inequalities tend to compound.
Wealth and political spending bleeds into decision-making, leading to policies that benefit the wealthy at the expense of the less so.
“Excess wealth” tend to disappear from ‘Main Street’ and the kind of normal circulation that directly generates +life_quality, into Wall Street circlejerks.
“Excess wealth” also tends to seek safe harbor in concrete assets. Every investor tilts eg. the supply and demand of housing a bit more into the demand side, which leads to rising costs for people wanting to buy a house to own, since the supply of good lots can’t increase as much.