The country’s leaders avoided a populist backlash by engineering an economic boom. Now the boom is creating problems of its own.
  • UncleArthur@lemmy.worldEnglish
    14·
    2 months ago

    “One lesson from 2008, he argues, was that boosting the incomes of those at the bottom is the only sustainable way to grow an economy. When the rich get extra money, they tend to save it, which simply pushes up asset prices; when the poor get extra money, they spend it, which creates all sorts of real economic activity.”

    No shit, Sherlock.

    • pulsey@feddit.orgEnglish
      1·
      2 months ago

      Other governments know this too, they just choose to ignore it. It makes it so much worse.