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It makes sense though. Who spends more % of the money they earn? Hint, it ain't rich people.
Thus money velocity will come from the hands of the poor, as opposed to the rich, who have a lower propensity to spend.
Economic growth is measured in investment. The poor don't invest in new businesses, technology, equipment or labor. They just spend what is in their pocket. You cant get 'money velocity' from the poor, who by definition, have none.