The US economy is roughly $30 Trillion.
Suppose, due to some discovery, the US economy grew by 7% in one year.
That would be 2.1 Trillion dollars
America just got richer.
But what if it got richer because 10 new billionaires were added with a combined net worth of .8 Trillion due to the new discovery and the existing billionaires increased their wealth by 1.3 Trillion?
America got richer, but Americans did not.
1/2
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HunDriverWidow
in reply to The Felon Pope • • •Rose reshared this.
The Felon Pope
in reply to The Felon Pope • • •It's also why economists are wrong about nearly everything. They only look at the total number and assume that anything that makes the overall ecomomy grow is good, but this is a false assumption.
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