Re:Japan’s lost generation is still jobless and living with ...
by tuatoru on Friday October 02, 2020 @04:09PM
(#24666553)
> too many people and too few jobs leads to all sorts of social issues from wealth inequality ...
You have causation exactly backwards.
If poor people had higher incomes they would spend them. (In the jargon: "marginal propensity to consume declines with income".) That spending would create jobs and sustain incomes for other people like them. I know in my own case, if I had more money I would hire a personal shopper to buy my clothes, a cleaner, a personal trainer,...
Wealth and income inequality lead to stagnant societies where nobody is happy and most people are miserable.
You have causation exactly backwards.
If poor people had higher incomes they would spend them. (In the jargon: "marginal propensity to consume declines with income".) That spending would create jobs and sustain incomes for other people like them. I know in my own case, if I had more money I would hire a personal shopper to buy my clothes, a cleaner, a personal trainer,...
Wealth and income inequality lead to stagnant societies where nobody is happy and most people are miserable.