Some economists say, "what's good for the wealthy is good for everyone." Trickle down jobs, good, services, tax revenue.
Like saying, "what's good for General Motors is good for America."
Could be an element of truth to this, but there's also bad that trickles down.
When the Joneses make more, there's the stress of keeping up with the Joneses.
When billionaires price out the millionaires, where will we go when the millionaires price us out?
Real estate bubble.
Another problem is the brain drain theory. Universities, government agencies and the like end up paying their top executives more, fearing that the so called talent will move on to much higher paying positions in the private sector.
Salary leapfrogging to higher taxes and tuitions.
One also must ask, "are the CEOs actually more talented and sensible than the rest of us?"
These days, that's a good question.
Here's another question. Are most CEOs just trying to lead us into a bigger, faster rat race?
A few nights ago, I heard a discussion on the BBC about a steady state economy.
A steady state economy versus a growth economy.
Steady state still means quality of life and technology can improve, but we just aren't consuming more stuff, building bigger houses and working more hours.
Population growth must also be reduced to create a steady state economy.
I'm sure a lot more can be said about this.
They were also talking about a concept called a "Green New Deal." Interesting thinking.
Sounds better than the bigger faster rat race, to me.