this post was submitted on 20 Apr 2024
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That's why I said temporarily. If there's demand for millions of more cars, capitalists will find a way to provide the supply very quickly. There'll be less demand for idk, private jets or sth billionaires buy, and the resources previously used for the fulfillment of billionaire demand will start going to fulfilling the demand of the new things desired by lower classes that now have more money. Obviously it'll not happen instantly because stuff needs to be repurposed, new supply paths created, but eventually, the resource usage will be equal again.
How and why? It might surprise you to find out money isnt the bottleneck in most industries, its finding enough qualified workers, or having enough equipment or work area. And why would these businesses owned by the billionaire class put in the extra effort to meet this demand when their income got capped?
Because more medium businesses will fill the need, people that are not at the cap yet. And qualified workers, equipment or work areas are all resources, which eventually will be reallocated to whatever is in demand. I didn't specify a timeframe with my "temporarily", but I was talking decades, i.e. also enough time for new workers to be trained.