[quote] The idea that increased income inequality makes economies more dynamic has been rejected by an International Monetary Fund study, which shows the widening income gap between rich and poor is bad for growth.
A report by five IMF economists dismissed “trickle-down” economics, and said that if governments wanted to increase the pace of growth they should concentrate on helping the poorest 20% of citizens.
The study – covering advanced, emerging and developing countries – said technological progress, weaker trade unions, globalisation and tax policies that favoured the wealthy had all played their part in making widening inequality “the defining challenge of our time”.
The IMF report said the way income is distributed matters for growth. “If the income share of the top 20% increases, then GDP growth actually declines over the medium term, suggesting that the benefits do not trickle down. In contrast, an increase in the income share of the bottom 20% is associated with higher GDP growth,” said the report. [/quote]
Thoughts?
Edit: That feel when you can tell everyone is just liking the bobcast comment and moving on instead of commenting.
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Lol @ all the sheep in this thread who are unknowingly bending over for their corporate and political masters. How mentally deranged and insane do you have to be to actually believe it when rich and powerful people tell you that making them more rich (at the cost of making yourself less rich and powerful) benefits EVERYONE????? The only way that would possibly work is if that money went to technological advancement BUT IT FUCKING ISN'T, IT'S GOING TO PRIVATE JETS AND BILLION DOLLAR BEACH HOUSE MANSIONS. And let's not forget the democrat's master plan of keeping people poor so they have NO CHOICE BUT TO VOTE FOR THEM IN ELECTIONS. It's social darwinism at its finest. The powerful people rise to the top because they are ruthless and selfish. And therefore we have ruthless and selfish leaders conspiring against everyone else for the sake of their yachts, planes, helicopters, whatever. The only reason the middle class exists is because they don't want us to rebel against them, otherwise they'd have us all be dirt fucking poor.