I guess you have to balance the harm caused by the "lower velocity of money" as ... | Hacker News

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		soheil on June 30, 2021 \| parent \| context \| favorite \| on: How to Work Hard I guess you have to balance the harm caused by the "lower velocity of money" as a result of wealthy investing a portion of their earnings vs decreasing the incentives that allow one to become wealthy in the first place thus reducing wealth generation to flatten the inequality. Hasn't this been tried in almost every socialist country in South America?

rgifford on June 30, 2021 [–]

And by the US in the 1930s with the New Deal [1]. Many at least partially credit it for the economic prosperity that followed WWII.

It's a tricky balance it seems.

1. https://en.wikipedia.org/wiki/New_Deal

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