There’s an expression in Japan (I think): “A rising tide lifts all boats.” The rich could get EVEN RICHER if they helped people out of poverty, who would then likely buy more of whatever it is the rich sell to get rich. But that’s long term thinking…
The problem with that sense of Trickle Down Economics is that these better Capitalists that pay more cannot do so when in competition. Similarly, raising minimum wage, while massively helpful for humanity, lowers the rate of exploitation and thus lowers the rate of profits for business owners.
This is the key of why Capitalists cannot be convinced to do better, it will always hurt them.
There’s an expression in Japan (I think): “A rising tide lifts all boats.” The rich could get EVEN RICHER if they helped people out of poverty, who would then likely buy more of whatever it is the rich sell to get rich. But that’s long term thinking…
This one originates from the United States, popularized by Kennedy.
That’s also an English expression
The problem with that sense of Trickle Down Economics is that these better Capitalists that pay more cannot do so when in competition. Similarly, raising minimum wage, while massively helpful for humanity, lowers the rate of exploitation and thus lowers the rate of profits for business owners.
This is the key of why Capitalists cannot be convinced to do better, it will always hurt them.