As Richard J. Murphy notes, when money goes into the hands of billionaires, it leaves the economy, getting tied up in bank reserves (or corporate reserves if invested) and into literal vaults. That money is no longer in motion, propelling trade, but gets trapped dormant.
This is why when wealth distribution graph is deeply bowed, the economy gets austere.
And as Leeja Miller notes, historically the only way such wealth ever gets redistributed to public interest (either directly to the public, or into a good-faith public-serving state) has been through violence.
Disclaimer: This is not a call for violence, only that corrections in history have involved piling aristocratic heads high after a takeover by force. The 20th century has seen a lot of progress in non-violent revolution.
Right now the ownership class has a powerful propaganda machine to dissuade protest, and mass suffering tends to lead to violent reprisal, especially when families see their own vulnerable suffering and dying, so if we don’t figure out some peaceful action that creates movement, we’ll end up with a lot of self-radicalized folk eager to die in action just to express themselves.
As Richard J. Murphy notes, when money goes into the hands of billionaires, it leaves the economy, getting tied up in bank reserves (or corporate reserves if invested) and into literal vaults. That money is no longer in motion, propelling trade, but gets trapped dormant.
This is why when wealth distribution graph is deeply bowed, the economy gets austere.
And as Leeja Miller notes, historically the only way such wealth ever gets redistributed to public interest (either directly to the public, or into a good-faith public-serving state) has been through violence.
Disclaimer: This is not a call for violence, only that corrections in history have involved piling aristocratic heads high after a takeover by force. The 20th century has seen a lot of progress in non-violent revolution.
Right now the ownership class has a powerful propaganda machine to dissuade protest, and mass suffering tends to lead to violent reprisal, especially when families see their own vulnerable suffering and dying, so if we don’t figure out some peaceful action that creates movement, we’ll end up with a lot of self-radicalized folk eager to die in action just to express themselves.