You’re saying “incorrect” like there’s universal agreement on the subject. One can (and many do) just as easily argue that the rate of return on capital investment always exceeds economic growth in the long run. Over time, the resulting income inequality destabilizes society and leads to outcomes undesirable to everyone, like getting your head cut off by an angry mob.
if you believe this, capital investment does not make society better overall absent controls which insure income inequality cannot grow unchecked.
I’m not saying this is inarguably the truth, but if millions of people read “Capital in the 21st Century” then it’s at very least not a fringe idea, and one cannot simply dismiss criticism of investment as it exists in our economy.
if you believe this, capital investment does not make society better overall absent controls which insure income inequality cannot grow unchecked.
I’m not saying this is inarguably the truth, but if millions of people read “Capital in the 21st Century” then it’s at very least not a fringe idea, and one cannot simply dismiss criticism of investment as it exists in our economy.