There certainly is a distribution problem. The same holds true for food. We produce more than enough to feed everyone but there are still hundreds of millions of people in the world starving.
From an economic perspective, the fact that we have an exclusive system does not help the distribution of wealth. Few are able to participate via ownership of anything.
Cryptocurrency is changing that if people will embrace it.
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That is all true. I dont discount any of that. I wrote a number of article how our present system is exclusionary and only benefits a select few.
Yes we did. The difference is we had resources that were chased by said money which did not expand at a rapid pace. For most of human history innovation was not advancing much within a generation's lifespan.
No matter how much they try to sell it, the is not a field of science so the entire premise of a Nobel Prize is absurd.
And yes, 40+ years of trickle down economics shows how wrong the Jack Kemps of the world were.
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Well, we certainly get trickle down taxes. Increase the taxes on businesses and, just like any other cost, the business will seek to counteract it, often out of necessity, by reducing employment and/or raising prices. The problem is that the relationship is not a simple one and there is not a one to one immediate reaction. The idea of government managing an economy at all is what is laughable.