Re: Don't be fooled by the wealthy's economic research deception

Posted: Fri Aug 11, 2017 7:00 pm, #2
by Jessica
Don't listen to the rich---Inequality is bad for everyone

Yes, from the title of this article it looks like others agree with me.

In Phys.org
Don't listen to the rich---inequality is bad for everyone
August 7, 2017 by Chris Doucouliagos, The Conversation

https://phys.org/news/2017-08-dont-rich ... y-bad.html
Having only a few people with most of the wealth, motivates others. This theory is actually wrong according to research.

A world where a few people have most of the wealth motivates others who are poor to strive to earn more. And when they do, they ll invest in businesses and other areas of the economy. That s the argument for inequality. But it s wrong.

Our study of 21 OECD countries over more than a 100 years shows income inequality actually restricts people from earning more, educating themselves and becoming entrepreneurs. That flows on to businesses who in turn invest less in things like plant and equipment.
See, I told you so.