Yeah, I think this is what they mean. It is a form of poor bashing: poor people don’t invest their money to create jobs, grow the economy, etc. I have a friend who is very susceptible to this type of right-wing propaganda, and i had to point out that rich people can only invest a large portion of their income because their basic needs are (abundantly) met.
Buying things is literally the economy. People spending money into it improves the economy directly. The velocity of money is a key part of a working market, and the rich impart very little of their wealth into it.
Agreed. The position of the conservatives who espouse such beliefs is incoherent. They have a whole mythology surrounding the importance of entrepreneurs that doesn’t take markets into account. For many of them, the most advanced economic text they have ever read was an Ayn Rand novel.
Yeah, I think this is what they mean. It is a form of poor bashing: poor people don’t invest their money to create jobs, grow the economy, etc. I have a friend who is very susceptible to this type of right-wing propaganda, and i had to point out that rich people can only invest a large portion of their income because their basic needs are (abundantly) met.
Buying things is literally the economy. People spending money into it improves the economy directly. The velocity of money is a key part of a working market, and the rich impart very little of their wealth into it.
Agreed. The position of the conservatives who espouse such beliefs is incoherent. They have a whole mythology surrounding the importance of entrepreneurs that doesn’t take markets into account. For many of them, the most advanced economic text they have ever read was an Ayn Rand novel.