The per capita gross world product was approximately ~$18k/yr in 2017. No matter how efficiently you redistribute resources, you cannot exceed this number.
Instead we really need to invest more in productivity gains for the world's bottom 90%.
Instead we really need to invest more in productivity gains for the world's bottom 90%.
This assumes distribution can have no positive impact on output, which is certainly not an established fact.
We know this isn’t the case.
https://ips-dc.org/wall_street_bonuses_and_the_minimum_wage/
> All those dollars low-wage workers spend create an economic ripple effect. Every extra dollar going into the pockets of low-wage workers, standard economic multiplier models tell us, adds about $1.21 to the national economy. Every extra dollar going into the pockets of a high-income American, by contrast, only adds about 39 cents to the GDP.
Also, while I agree with the premise that it's better to increase the minimum wage could you explain why folks investing their bonuses in the stock market and therefore directing their capital towards productive companies is worse than consumers spending their money directly?
Sure it is. When the last round of tax cuts were configured, deliberate choices were made that affected different income brackets in different ways. The levers can be tweaked to direct the benefits to the poor, the wealthy, the middle class, etc.
> could you explain why folks investing their bonuses in the stock market and therefore directing their capital towards productive companies is worse than consumers spending their money directly?
I already did, with a linked source for further details.