Definately. One problem with money is it has no inherent value. It only has value when it is utilized. So hoarding essentially removes money from the economy. Its like potential and kinetic energy.
But we already solved that problem in financialized capitalism. If the Americans are too poor to buy anything, put them on payment plans, monthly service fees, loans, and credit cards. Now the rich get to hoard as much as they like, and every crisis lets the richest of the rich get their hands on all the small and medium-sized businesses. If the people go poor again, just put them in more debt and give call their purchases “luxury purchases”. You don’t even need to make a profit to run a billion-dollar business anymore.
Taxing rich people to pay for good paying jobs in healthcare, education, and utility/infrastructure maintenance would help everyone.
Economies need to be a cycle. If the rich just hoard and don’t spend then we can’t spend either.
So if they won’t pay a liveable wage, tax them heavily and start paying liveable wages with the money.
Definately. One problem with money is it has no inherent value. It only has value when it is utilized. So hoarding essentially removes money from the economy. Its like potential and kinetic energy.
But we already solved that problem in financialized capitalism. If the Americans are too poor to buy anything, put them on payment plans, monthly service fees, loans, and credit cards. Now the rich get to hoard as much as they like, and every crisis lets the richest of the rich get their hands on all the small and medium-sized businesses. If the people go poor again, just put them in more debt and give call their purchases “luxury purchases”. You don’t even need to make a profit to run a billion-dollar business anymore.