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Ben Kizemchuk @BenKizemchuk on x 6315 followers
Created: 2025-07-24 18:43:00 UTC
Econ bears fixate on economic gains accruing to the rich, who have a lower marginal propensity to consume.
True, but irrelevant.
The rich may spend a smaller share of income, but their incomes are so large that their absolute dollar value of consumption dominates. The top two income quintiles regularly account for over half of consumption.
GDP doesn’t care about MPC. It only cares about total dollars spent.
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