> The issue is the savings in salary costs doesn't go to the consumer, it goes to the executives.
This is a bit simplistic. Some of the savings do and some go to the consumer by way of competition among firms.
Inflation has been pretty flat in recent years and that's not because governments stopped printing money. It's because prices on goods and services have been under a lot of pressure due to globalization. That means consumers are paying less than they would be if that weren't the case.
Granted, those at the top are raking in the cash. But money is worthless unless you spend it and when they spend it, somebody has to do the work that the money is being spent on. That creates jobs.
Certainly everybody wishes they were making more money and in some cases, the grievance is legitimate.
Trickle-down economics is a failed theory. The wealthy only spend a small percentage of their income. They re-invest most of it. True, sometimes they invest in businesses (VC, IPOs, Business expansion, etc.), but most investment dollars go to the secondary markets (Stocks, Derivatives, etc.), which does not create any jobs and produces no value.
> But money is worthless unless you spend it and when they spend it, somebody has to do the work that the money is being spent on. That creates jobs.
The issue is that the rich spend a smaller proportion of their money than the middle class.
So while globalisation does increase the prospects for some poor people, it definitely does take wealth out of the global economy and into the hands of the '1 percent'.
This is a bit simplistic. Some of the savings do and some go to the consumer by way of competition among firms.
Inflation has been pretty flat in recent years and that's not because governments stopped printing money. It's because prices on goods and services have been under a lot of pressure due to globalization. That means consumers are paying less than they would be if that weren't the case.
Granted, those at the top are raking in the cash. But money is worthless unless you spend it and when they spend it, somebody has to do the work that the money is being spent on. That creates jobs.
Certainly everybody wishes they were making more money and in some cases, the grievance is legitimate.