Bite Size Economics No.5
'The rich don't spend enough'
The reason 'trickle-down economics' doesn't work is that while workers spend most of their income (a multiplier effect then passes money from hand to hand maintaining economic activity), the wealthy 'invest' much of their money in assets (mostly property of various sorts).
This 'investment' takes money out an economy, tying it up in speculative asset markets, with no multiplier spreading it around!
The implications are clear. #Preparedness against #weather_calamities will degrade right away, putting millions at risk. In the long run, the world will walk blindly into an #apocalypse.
But why? The alarming data may compel the world to switch to #RenewableEnergy sources. But then, how will the ultra #wealthy #OilCompanies milk us for profit without the #CentralizedEnergy sources and distribution infrastructure they control? It's always about money!
[6/7]
A quotation from Basil the Great
You seem to have great possessions! How else can this be, but that you have preferred your own enjoyment to the consolation of the many? For the more you abound in wealth, the more you lack in love.Basil of Caesarea (AD 330-378) Christian bishop, theologian, monasticist, Doctor of the Church [Saint Basil the Great, Ἅγιος Βασίλειος ὁ Μέγας]
Sermon (368 ca.), "To the Rich [Ὁμιλία πρὸς τοὺς πλουτούντας]" [tr. Schroeder (2009)]
More about this quote: wist.info/basil-of-caesarea/70…
#quote #quotes #quotation #qotd #basilthegreat #saintbasil #charity #love #possessions #rich #riches #selfindulgence #selfishness #wealth #wealthy #misanthropy #enjoyment #pleasure
You seem to have great possessions! How else can this be, but that you have preferred your own enjoyment to the consolation of the many? For the more you abound in wealth, the more you lack in love. [ἀλλὰ μὴν φαίνῃ ἔχων κτήματα πολλά. Πόθεν ταῦτα; ἢ δῆλον ὅτι τὴν…
H. P. Lovecraft (1890-1937) American fabulist [Howard Phillips Lovecraft]
Letter (1936-08) to Catherine L. Moore
More about this quote: wist.info/lovecraft-h-p/12672/
#quote #quotes #quotation #qotd #lovecraft #hplovecraft #acquisitiveness #avarice #business #capitalism #conservative #freedom #history #laissezfaire #liberty #private property #profit #Republican #wealth #wealthy
As for the Republicans -- how can one regard seriously a frightened, greedy, nostalgic huddle of tradesmen and lucky idlers who shut their yes to history and science, steel their emotions against decent human sympathy, cling to sordid and provincial ideals exalting sheer acquisitiveness and condoning artificial hardship for the…
#發大財
#rich
#wealthy
#affluent
#prosperous
#置產
#買房
1. 基礎與直接的「富有」
Wealthy / Rich：最常見的「富有」。Wealthy 通常比 rich 更持久，暗示擁有大筆資產、累積了豐厚財富。
Affluent：富裕的、富足的。常用來形容富裕的社會、家庭或生活方式，聽起來比 rich 更文雅、高尚。
Prosperous：繁榮的、興旺的。不只指有錢，還包含事業成功、蒸蒸日上、順風順水的意思。
#發大財
#rich
#wealthy
#affluent
#prosperous
1. 基礎與直接的「富有」
Wealthy / Rich：最常見的「富有」。Wealthy 通常比 rich 更持久，暗示擁有大筆資產、累積了豐厚財富。
Affluent：富裕的、富足的。常用來形容富裕的社會、家庭或生活方式，聽起來比 rich 更文雅、高尚。
Prosperous：繁榮的、興旺的。不只指有錢，還包含事業成功、蒸蒸日上、順風順水的意思。
Emeritus Prof. Christopher May
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Gokul Das
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