From his perch in Silicon Valley, cub economist Marc Andreessen offers a brilliant new argument in favor of income inequality:
You see, it’s ok to give raises to the wealthy, because the wealthy don’t produce the“things” that“lower-income consumers”need to buy.But you shouldn’t increase the wagesforlower-income workers involved in the production of“things,” since they’re going to spend most of their money on those “things.” In other words: Pay the poor less, and they’ll feel richer. Sweet!
Published on January 19, 2015 08:49