However, if you pay the peons more, they will spend more. If you pay the big cheeses more, they will financialize more, with the trickle-down effect being rather… low. So the overall “real economy” effect, where goods and services move instead of just some fictitious numbers, is likely to be better.
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Absolutely.The economy would work better if we had a flatter distribution of incomes. In fact, I would argue that it DID work better when we had a flatter distribution of incomes. .
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And to some extant, the flatter government income scale (especially on the lower side) reflects the fact that it was designed when incomes in the wider economy ware flatter and the fact that the government is much slower to chance personnel policies than private industry.
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