Abolish plutocracy if you would abolish poverty. As millionaires increase, pauperism grows. The more millionaires, the more paupers.
About this quote
- What does it mean?
- Hayes claims that eliminating extreme wealth concentration is necessary to end poverty. He sees a direct correlation between the rise of millionaires and the rise of the poor.
- In plain terms
- If you want to end poverty, you must reduce the concentration of extreme wealth.
- What can you take from it?
- Economic inequality drives poverty.
Where it applies
Putting it to work
Questions to consider
- Does wealth concentration cause poverty?
- What reduces inequality effectively?
Another view
It simplifies complex economic dynamics into a direct causal link.
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