One of those widespread, surviving myth that should have been totally debunked a long time ago as far as free market economies are concerned!
Attributed to a English Romantic period poet Percy Bysshe Shelley! What do poets and romantics know about the economy? Often, very little!
I recently encountered the repeated use of this myth in a machine learning related comprehensive survey paper. Even PhDs are not immune to this myth!
Those who are rich and poor do not stay the same over time at least not in free market economies.
The definition of rich and poor people is in the eye of the beholder. E.g. is it the top 5% or 10% etc.
What if the group of the people in the middle gets bigger and richer?
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