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everybody gets a million dollars. The person who had $50k, now has more than $105k assuming a 10x inflation. Everyone who had less than $100k would be richer.
by kashkhan 10y ago
everybody gets a million dollars. The person who had $50k, now has more than $105k assuming a 10x inflation.
Everyone who had less than $100k would be richer.
- robotresearcher 10y agoSince rent and food becomes 10X more expensive, in the steady state anyone who makes less than the new cost of rent+food is worse off in the long term. The million dollar windfall gradually accretes to the people who charge rent and sell food.
- kashkhan 10y agoyes and we can adjust the crossover point as we see fit. that's how helicopter money works. In the limit you could give everyone a trillion dollars, and we'd all be equal. This is a thought experiment. My point is that wealth is real and meaningful and can be adjusted.