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this post was submitted on 29 Jan 2024
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I’d disagree that there isn’t a “correct” way to do it. Basically if the money stays with working class people, it’s good. If it just is absorbed by the richest people, it’s bad.
I didn’t say we were moving towards serfdom per se, probably only for a small amount of time. But we are surely moving towards techno-feudalism. Where rent-seeking is the primary form of wealth extraction, moving from profits being the primary one.
In a good economy money should circulate though. What you're thinking of is the wealth and standard of living it leaves behind. Giving money to rich people means it does nothing but sit in their bank accounts or the stock market. Poor people have things they need to buy so the money will circulate making the real economy work better.