Tag Archives: Social Sciences

Who controls the economy?

Economic control is to some extent decided  by the democratic process – but nowhere near to the extent that most voters would think.  Naturally, those who have the most money have the most influence.  If they decide to spend big time then the government needs to increase taxes to slow down the economy and prevent inflation. These are levied largely on those who have much less. If the very wealthy decide to acquire a mountain of cash, then the government needs to run high budget deficits to keep the economy moving.

That may be acceptable if the extent of inequality was close to what most citizens would consider reasonable.

But, is it?

This is the extent of the inequality, and the perceived inequality,  in America and it’s probably not much different elsewhere.

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