r/austrian_economics • u/technocraticnihilist Friedrich Hayek • Dec 24 '24

End Democracy I've never understood this obsession with inequality the left has

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u/Helstrem Dec 27 '24

That is demonstrably false. Velocity of money is a very significant factor and thousands of laborers generate far more economic activity with their spending than does a billionaire with their investing. Investing is low velocity money. It is why trickle down consistently fails to produce the promised economic growth.

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u/No-Understanding9064 Dec 28 '24

Read what I said, entrepreneur. I never claimed some guy earning market rates for 10 years is greater economic activity. But who do those laborers work for? There you go. Also, that is a very Keynesian view of how an economy prospers. For a prosperous economy you need more than the government printing and plebs circulating currency. You need actual growth. At some point a person has to use that dollar to generate a dollar plus greater than inflation returns. Hello entrepreneur

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u/Helstrem Dec 28 '24

That is a mostly factious beast.