Comment on Modern Monetary Theory: Musk Edition
Blue_Morpho@lemmy.world 3 hours agoThe productive capacity of the accumulated capital owned by US billionaires exceeds $31k/person/year.
If that was true then taking all their capital and distributing it would be more than $31k/person/year for each individual receiving their share of the 8.4 Trillion.
UnderpantsWeevil@lemmy.world 2 hours ago
Yup.
Blue_Morpho@lemmy.world 16 minutes ago
So it doesn’t change anything. You get $30k and yes that $30k is worth more because it can generate maybe $3k in investment income for you a year. It’s still only $30k.