Consumer Spending
Cal Berkeley professor Robert Reich claims it’s a “problem” that the “rich don’t spend the money they have,” because “70% of the economy relies on consumer spending.”
IN FACT, Ph.D. economist Mark Skousen notes that “consumer spending is the effect, not the cause, of a productive healthy economy.” The rich put much of their money into investments that increase productivity, which is the main driver of America’s exceptional living standards.
