aka the Matthew effect of accumulated advantage, from the Gospel of Matthew: "For to all those who have, more will be given, and they will have an abundance; but from those who have nothing, even what they have will be taken away"
Low growth, in turn, reinforces inequality by intensifying distributional conflict, making concessions to the poor more costly for the rich, and making the rich insist more than before on strict observance of the ‘Matthew principle’ governing free markets
notable
7 years, 2 months ago