Milla Mélomane
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The velocity of money is under-discussed. Will Rogers mentioned it, noting that $20 given to a poor person would be spent on goods and services several times (before ending up in a rich person's wallet that night, to stagnate).
SLS StickFigure @SLS_StickFigure
"When working people have more money in their pockets, they tend to spend almost all of it. Thus, as wages increase and more people move into the middle class, the result is almost always an economic stimulus to the state which raises both the revenues and the profits of businesses in that state."
08:30 AM - May 08, 2024
11:38 PM - May 08, 2024
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Craig Tyler
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In response to Milla Mélomane.
It’s the basic premise of Keynesian economics and we know it works because FDR, DDE, JFK, & LBJ all proved it.
11:56 PM - May 08, 2024
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