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If the rich get richer, so does everybody else

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(iStock)
(iStock)

THE world is full of clichés. One to question proclaims that “economic growth is only good if it benefits everyone”. Really?

Sarah lives out in the middle of nowhere. She grows vegetables and raises livestock to survive. This year, her cow produced a calf - in terms of Sarah’s economics, that’s growth. In addition, Sarah managed to double her vegetable crop. She is now better fed than ever before and happy.

But that growth benefited only her, no one else. If economic growth “is ONLY GOOD if it benefits everyone”, does that mean the growth Sarah saw is bad? Of course not.

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