Quote Originally Posted by JaneV2.0 View Post
Good article. He's one who seems to recognize that having a peasant class is bad for business.
The thing that so many in the current .1% class don't seem to get is that simply hoarding money won't work. When there aren't enough people out there who can afford to buy crap the whole economy falls apart. Henry Ford understood this and paid his employees what was perceived to be an obscene wage at the time. Hindsight tells us how that worked out for him. Quite well. Rich people hoarding money doesn't work in the long run. Nobody mentions this too much anymore but 'consumption' is still 70-some percent of US GDP. If a smaller and smaller chunk of the population has enough money to actually consume anything then the economy eventually crashes and burns. WHen that happens the .1% may not become destitute but they will certainly get poorer. We may very well have to relearn that lesson at some point in the fairly near future.