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by hackyhacky 30 days ago
Your argument amounts to billionaire apologism and has nothing to do with my comment.

If a supermarket cannot be profitable in a small village, an investor isn't going to change that. The investor will invest in businesses that can be profitable.

> Your deli guy wouldn't have a job if the FoodCo guy hadn't done what he did.

People have had jobs since before civilization, and certainly before massive accumulation of wealth became the norm.
1 comments
WalterBright 30 days ago
In capitalist countries, accumulation of wealth comes alongside the prosperity of the rest of the country.
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hackyhacky 30 days ago
Ah yes, the famous "trickle down" economy of Reaganomics. If only we had more billionaires, then I'm sure I'd be able to afford to get my car fixed.

Unfortunately, this economic model has been proven to be wrong. If it were true, then we would have seen a decreasing gap between the rich and the poor. We didn't.

https://www.statista.com/chart/35953/inequality-wealth-gap-u...

https://www.theguardian.com/commentisfree/2022/oct/09/why-is...

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WalterBright 30 days ago
> Unfortunately, this economic model has been proven to be wrong.

As I've mentioned several times now, the growth of the wealthy in the 19th century corresponded with the movement of the poor into the middle class.

> If it were true, then we would have seen a decreasing gap between the rich and the poor.

What matters is the state of the poor, not the gap between rich and poor. Musk's wealth, for example, has no effect on my standard of living. Or yours.

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hackyhacky 30 days ago
> As I've mentioned several times now, the growth of the wealthy in the 19th century corresponded with the movement of the poor into the middle class.

Yes you keep on mentioning that, but I don't know why. Correlation is not causation. You haven't even proposed a mechanism of causality.

> What matters is the state of the poor, not the gap between rich and poor.

You keep on repeating that, and you keep on being wrong. You are parroting billionaire propaganda in the hopes of making people ignore injustice. In reality, in the US, living standards are falling for most people, while Elon Musk has no rational reason for possessing so much wealth.

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