[lbo-talk] One optimist's view of the economy

[Paul]

Mark S. writes:
>I've seen two different economists assert that poor people are basically 
>superfluous to the present real growth of the U.S. economy.  Maybe that's 
>why real growth is so weak.  The coterie of the rich are doing all of the 
>extra spending...

The question to ask them is who has been doing all the extra useful work 
that created the growth?

After all we already KNOW that the poor - and actually a good majority of 
people - haven't been getting paid more for a couple of decades (after 
inflation).  And that the rich have gotten a LOT more (salaries and 
profits).  So it is no surprise that the extra spending comes from the 
rich.  But that they got the money (by weakening unions, lowering wages, 
etc) doesn't mean they EARNED the money.

Paul