That idea that the rich get richer and the poor get poorer is straight from Karl Marx. It is also totally false as the last fifty years has elevated the health and wealth of the entire world except a few pest-holes like Venezuela, Cuba, North Korea, and Afghanistan.
This is, seriously, the argument used every time low-paid workers are given a chance to “catch up”. The rich can manipulate their investments to deal with inflation as it is happening.; the poor cannot.
Reminds me of when I was a young engineer, and my boss explained to me that he couldn’t give me even an cost-of-living raise (after crowing about his bonus) because “no use giving people who don’t have money more money – they just waste it or else they’d already be rich. The rich deserve to have all the money.”
GROG Premium Member over 2 years ago
That’s the idea.
C over 2 years ago
I hear that guillotines may be making a comeback
pschearer Premium Member over 2 years ago
That idea that the rich get richer and the poor get poorer is straight from Karl Marx. It is also totally false as the last fifty years has elevated the health and wealth of the entire world except a few pest-holes like Venezuela, Cuba, North Korea, and Afghanistan.
mfrasca over 2 years ago
Positive feedback loops almost always end in disaster.
mistercatworks over 2 years ago
This is, seriously, the argument used every time low-paid workers are given a chance to “catch up”. The rich can manipulate their investments to deal with inflation as it is happening.; the poor cannot.
MuddyUSA Premium Member over 2 years ago
And there you have it!!
raybarb44 over 2 years ago
Thank you for the explanation and your world order concern Mr Scrooge……
ferddo over 2 years ago
Reminds me of when I was a young engineer, and my boss explained to me that he couldn’t give me even an cost-of-living raise (after crowing about his bonus) because “no use giving people who don’t have money more money – they just waste it or else they’d already be rich. The rich deserve to have all the money.”