Macroeconomics 9th Edition by David Colander

Exercise 25

Capitalism was a derogatory term coined by Karl Marx to deride the riches of those who accumulated capital.e said that the accumulation of capital helps the rich get richer while simultaneously making the poor get poorer.
a.Have the poor become poorer under capitalism
b.Based on the growth model presented in the text, what would you expect to happen to poor people's income when society accumulates capital (Austrian)