| >I can't imagine why any self-respecting economist wouldn't recommend the policy on purely economic grounds. I would like to agree with that, but there's this: https://www.aljazeera.com/indepth/opinion/2012/10/2012102915... "Most economists are not paid for knowing about the economy. They are paid for telling stories that justify giving more money to rich people." Or another, more famous quote:
"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!" Is that the case for economists? I can't say for sure. If people don't care whether economists actually try to fix problems, though, then it's more likely that they will not. That's what this question (not precisely a poll, but meant to be) was for. >If your solution is protectionism or luxury tax or devaluation or similar It's a way of getting people to work less. Relevant details about why it works 'mechanically' (as opposed to psychologically) include that rich people spend a lower percentage of their income than poor people; rich people tend to buy higher-profit or expensive items, meaning their spending goes to other rich people; limited possibilities for targeted pricing when income inequality is high mean that e.g. there are many homeless people at the same time as many homes are unoccupied; and possibly other things I'm forgetting. I may not reply again. |