This is it exactly, and it’s one of the lesser discussed facts of income inequality. Eventually, when the people at the top are the only ones with money, they become the only ones spending money, and thus they are the only ones catered to. Everyday people get priced out of basic things because what’s the point in making things affordable for the poors? When one rich person will spend more than 1000 poor people, wouldn’t it be better to appease the rich person?
See places like Vegas or Disney for very visible examples of this happening.
This is it exactly, and it’s one of the lesser discussed facts of income inequality. Eventually, when the people at the top are the only ones with money, they become the only ones spending money, and thus they are the only ones catered to. Everyday people get priced out of basic things because what’s the point in making things affordable for the poors? When one rich person will spend more than 1000 poor people, wouldn’t it be better to appease the rich person?
See places like Vegas or Disney for very visible examples of this happening.