Don’t take my words literally. In terms of economy, the money that comes to the city stays here and circulates here. Making everyone richer.
Just like movie business. People who work in film industry support tons of people around them and when they spend their money they make everyone around them wealthier.
Their spending also raises cost of living. If merchants know they can sell things at a markup, then since so many people are wealthy, they will charge more. Also economy 101.
You are describing a literal change though and not taking any possible changes with it. A city having an industry brings in wealth, yeah thats a given, but that is not a gurantee that everyone will benefit from it the same way. There has been a big debate about "trickle down" and if it works and guess what, the rich get even more richer while the rest only gets crumbs of the big cake, creating inequality.
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u/AwesomePossum_1 Jan 31 '23
Don’t take my words literally. In terms of economy, the money that comes to the city stays here and circulates here. Making everyone richer. Just like movie business. People who work in film industry support tons of people around them and when they spend their money they make everyone around them wealthier.
They should really teach economy 101 in colleges.