It is a testament to the power of global state ideology and its media system that this paragraph’s contents are not more widely known – especially considering the source!
‘…"If the income share of the top 20% (the rich) increases, then GDP growth actually declines over the medium term, suggesting that the benefits do not trickle down. In contrast, an increase in the income share of the bottom 20% (the poor) is associated with higher GDP growth," the report says.
The paper looks at 159 advanced and developing economies between 1980 and 2012, investigating how income is distributed in each society and its level of national growth. It finds that when the income share of the top 20% increases 1%, economic growth is then down 0.08% in the following five years. At the same time, a 1% increase for the bottom 20% leads to increased GDP of 0.38% in the following years…’
via The International Monetary Fund Says Trickle-Down Economics Don't Work | Co.Exist | ideas + impact.
