If everybody is rich, then no one is rich. In other words, if everyone has a lot of money, then the prices will be high enough to suck this money out of everyone.
America, and now much of the Western world, runs on debt and taking on debt is being instilled from the early years, so no wonder why people can't save when their income is spent on interest payments.
We know empirically that lower wealth inequality works because in the past periods with lower wealth inequality societies lived more secure lives financially, so wealth redistribution is the answer.
A tale of two cities both had access to the North Sea oil wealth one spent like a drunken sailor, the other side set up a sovereign fund guess who was doing better today. (and no population size has nothing to do with doing the right thing). Britain has a ton of excuses after 60 years.
And the point is to save and live within your means you can’t sit around and worry about what if the right thing to do is to save and live within your means you don’t sit around and worry about if everybody’s rich then no one‘s rich that sounds like an excuse not to do anything.
Many people who I worked with always had an excuse there’s no point saving or living within your means because inflation is gonna kill you or you’re going to be taxed.
America, and now much of the Western world, runs on debt and taking on debt is being instilled from the early years, so no wonder why people can't save when their income is spent on interest payments.
We know empirically that lower wealth inequality works because in the past periods with lower wealth inequality societies lived more secure lives financially, so wealth redistribution is the answer.