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Re:Britain Looks to Address Inequality with Executive Pay Me... by randyrand on Wednesday August 30, 2017 @03:50PM (#15135357)
You've been lied to. Growth comes primarily from investment in science, technology, and other areas of innovation. The wealthy are much more likely to invest in these than the middle class because they have money to spare. The middle class is primarily a consumption class, not an investment class.
Re:Britain Looks to Address Inequality with Executive Pay Me... by otakucode on Wednesday August 30, 2017 @04:02PM (#15135481)
Luckily we don't have to guess about this. We aggressively cut taxes on the richest in the US for all of the 80s and 90s. They did not invest in science, technology, or any area of innovation. They did not create more jobs. They invested solely in the financial services sector, and the money remains locked up in there still.
Re:Britain Looks to Address Inequality with Executive Pay Me... by ZenoArrow on Wednesday August 30, 2017 @04:00PM (#15135459)
> "Growth comes primarily from investment in science, technology, and other areas of innovation."

No, it doesn't. It's quite simple, none of those advances in science and technology mean a damn to the economy if there's no consumers buying new products. A working class person is much more likely to spend £1000 into the economy faster than a rich person, mainly because their needs are more immediate. Spreading wealth around leads to a broader base of consumers and a healthier economy. Also, it's quite clear that the opposite (trickle-down economics) has been a dismal failure.

Re:Britain Looks to Address Inequality with Executive Pay Me... by clarkmoody on Wednesday August 30, 2017 @04:32PM (#15135750)
> new products

Research & innovation create new product categories. No amount of consumer spending invents new products.

I disagree with you that consumer spending boosts the economy. Look at the actions of central banks easing monetary conditions to try and boost spending. All they do is succeed in inflating bubbles that later produce busts.

Economic growth is a subject not completely understood by economists. Is is savings or investment? How does regulatory burden come into play? What about property rights and government corruption?

Re:Britain Looks to Address Inequality with Executive Pay Me... by ZenoArrow on Wednesday August 30, 2017 @04:55PM (#15135924)
> "Research & innovation create new product categories. No amount of consumer spending invents new products."

Potential consumer spending does create the space for new products.

Take VR as an example. The recent resurgence in VR has been made possible by the disposable income of gamers, especially PC gamers. Look at the high amounts of money being spent by gamers. If that disposable income did not exist, the resurgence of VR would look very different, and products like the Vive and the Rift are unlikely to have emerged.

As for whether consumer spending drives scientific research, depends on what you class as consumer spending. For example, do you class student loans as consumer spending? Do you class government taxes as consumer spending? I'd suggest that funding from a diverse group of people is more reliable than hoping a handful of rich people do the right thing.

Re:Britain Looks to Address Inequality with Executive Pay Me... by oh_sigh on Wednesday August 30, 2017 @04:10PM (#15135554)
Ok, so now we have a bunch of companies selling soda to end consumers, instead of risky startup in unproven fields which may lead to large changes in our world.
Re:Britain Looks to Address Inequality with Executive Pay Me... by ZenoArrow on Wednesday August 30, 2017 @04:21PM (#15135646)
Consumer tech is still a thing. You're almost certainly using a consumer tech device right now. As for R&D, there's little evidence that suggests the wealthiest amongst us are the biggest risk takers. One of the reasons people like Elon Musk get a lot of media coverage is because he breaks the mould, he's a wealthy individual taking big risks to better our world. There aren't that many people like him around. Even venture capital investors, who are (by reputation) open to risk, tend to stick to the safe bets.
Re:Britain Looks to Address Inequality with Executive Pay Me... by albertgoeswoof on Wednesday August 30, 2017 @04:00PM (#15135464)
This makes no sense. You're saying the rich invest their spare cash into science and tech? That's not at all true, the rich invest into areas that provide returns on their investments, that's how they got rich and how they stay rich.
Re:Britain Looks to Address Inequality with Executive Pay Me... by oh_sigh on Wednesday August 30, 2017 @04:09PM (#15135544)
...which has heavily included science and technology. At least for the past 40 years.
Re:Britain Looks to Address Inequality with Executive Pay Me... by albertgoeswoof on Wednesday August 30, 2017 @04:17PM (#15135613)
...along with thousands of other categories
Re:Britain Looks to Address Inequality with Executive Pay Me... by CyberDildonics on Wednesday August 30, 2017 @07:56PM (#15137115)
Are you sure it isn't getting at the low hanging fruit in education and health care?