Wealthy consumers continue to account for a growing share of US consumer spending, highlighting the lopsided strength of the economy as a slowdown in hiring and wariness among other income cohorts raise fears of a slowdown.
And it’s not just that they get half of the goods and services, it means we spent half of our work making that stuff, cause it has to come from somewhere. And a big part the rest flows into war or financial speculation. I wonder how much of 90% people’s work time (created value) actually goes towards their own consumption. Has to be less than 50% apparently.
And it’s not just that they get half of the goods and services, it means we spent half of our work making that stuff, cause it has to come from somewhere. And a big part the rest flows into war or financial speculation. I wonder how much of 90% people’s work time (created value) actually goes towards their own consumption. Has to be less than 50% apparently.
This is a pretty clear way of putting it. Half of all products of our labour go to the richest 10%.
And those 10% probably don’t produce anything at all. So we could all cut our working hours in half tomorrow while those 10% could get real jobs.