/biz/ - Business & Finance

>>30250630
There's the consequence of technology, cheap labor and productivity - the automation fantasy everyone here talks about... it won't completely happen but 1 guy can do already do the job of 2 did in the past. Like wagies are moving 120 units at the warehouse instead of 100 in the past. 40 workers at the farm can feed 50000 people.
That leaves many out of a job, but they won't go hungry they can get gibs or make youtube videos and eat.
Also wealth concentration - the ones who own the farms and capital. More money goes to the top; it's hoarded and just doesn't go around and stimulate the economy by people spending.

And look at it from a micro-perspective and how your peers act. Do they spend or are they thrifty? Do they even want to spend. Economic growth is predicated on spending on goods and services and I don't think people just spend as much as boomers did in their prime; whether that is out of necessity or preference I don't know.