Re:Bill Gross – Banking/finance “permanently damaged” [pdf]
by daemin on Friday March 04, 2016 @09:19AM
(#11223800)
Well there have been the studies showing that for every dollar given to the top quarter of society, the economy gets 75 cents of so. Where as for every dollar given to the bottom quarter the economy gets back 2, maybe 3 dollars.
So there is some argument for giving the bottom / poorest of people a simple basic income.
Re:Bill Gross – Banking/finance “permanently damaged” [pdf]
by Animats on Thursday March 03, 2016 @07:07PM
(#11221042)
"For a while the lack of wages could be compensated with cheap consumer credits. I guess that's maxed out too."
Yes. Rising house prices powered the boom up to 2008. It was called the "wealth effect", but it was just inflation. That didn't end well.
I strongly believe that forcing wages up (within reason) would increase economic output. We certainly don't need to push more money to the top people like most republican candidates want to do. The money would "trickle up" because people would actually buy things and entrepreneurs could take advantage of that purchasing power.