>>17925462
Cant believe someone actually replied days later.
>This is just Keynesian nonsense. "Money hoarding" is just saving, and if it's happening en mass then that's just a symptom of economic distortions, not the root cause.
ai told me what gave birth to capitalism was when assets like gold and jewels that Lords and maybe some peasants held were forced to change hands with things like taxes, tempting merchant goods or investing into stocks. And that the Catholic Church came out several times and said this was unChristian which is why savings and hoarding appeals to the conservative crowd.
I figured that people who hoard gold and bitcoin to "save" (which is much different than saving via bank account, bonds or dividends) was a resurfacing of Lords holding onto golds and jewels.
Further poor people are more likely to spend on frivolous things like iPhones, junk food and streaming services, which is why the government is incentivized to give poor people more money to do this. While rich people are ironically more frugal. Conservatives actually agree with this, except they think that CEOs giving their poor workers money to go back to the economy is much more effective than the government doing this.
