Economic Impacts of Income Inequality & Money Velocity
Economic Impacts of Income Inequality & Money Velocity During the run up to the 2016 Presidential election in, perhaps, the only superpower of today’s world, the result of which will have huge impact all over the world, we saw something totally unexpected happen. It was Bernie Sanders, a socialist, out-polling the eventual Democratic presidential candidate Hillary Clinton and Republican presidential candidate Donald Trump in almost all the national polls in hypothetical match-ups. Well, eventually he was unable to win the candidacy for next president on the Democratic side, whatever the reason that was for. The question here is, how a self-proclaimed socialist, like Sanders, was able to win the hearts of a majority of this capitalist country who, because of the weight of history, religiously believe socialism is something evil? One of the major reasons behind this paradigm shift was the ground reality of income inequality. To quote Sanders himself, “It is not moral,
