IT is an interesting read, and unlike some clownish primates (yes, I mean you SF), I'm more than willing to accept that much of the economy is a mystery. For instance, even in the original post, I was aware that I'm not precisely sure how money printing fits into GDP. So I took on the angle that was obvious - "hey everyone, get outraged, the CEOs of the most productive companies in America have wealth equal to 20% of GDP!"Fife wrote: ↑Thu Sep 02, 2021 9:14 amhttps://mattstoller.substack.com/p/the- ... all-street
I don't agree with this boy's policy fix ideas, but the description of the Cantillon Effect is not bad.
Obvious rage bait is obvious.
Their wealth is equal to 20% of the GDP, but the companies listed in the Dow Jones, S&P 500, and Nasdaq account for far more of the GDP than that. So what is the ratio of their wealth in GDP, to the actual amount of GDP they produced? Did their companies produce 90% of the nation's GDP, and their personal money, assets, and shares equal only 20%? If so - we need more of those fuckers. They'd produce more than 4x as much as they take.
But whatever.
Class warfare is the kool-aid of the day.
Look everyone, the people responsible for the most productivity in America have the most wealth.
Burn this fucker to the ground I guess.
Everyone knows the layabouts, weirdos, and complainers should have the most.
So unfair.
