Stevenson's trading background gives him a unique perspective most economists miss. The point about wealth concentration suppressing growth is crucial, when money piles up at the top it literally stops circulating through the economy. I've seen this play out locally where super wealthy neighborhoods dont actually generate much economic activity compared to middleclass areas. The post-2008 failure to see this coming feels less like missing data and more like ideological blindness.
Stevenson's trading background gives him a unique perspective most economists miss. The point about wealth concentration suppressing growth is crucial, when money piles up at the top it literally stops circulating through the economy. I've seen this play out locally where super wealthy neighborhoods dont actually generate much economic activity compared to middleclass areas. The post-2008 failure to see this coming feels less like missing data and more like ideological blindness.