3 ms·
The article tell us: "You had the same thing with the Industrial Revolution that concentrated more and more wealth into the hands of capital. " So, your identi
by RobertoG 7y ago
The article tell us: "You had the same thing with the Industrial Revolution that concentrated more and more wealth into the hands of capital. "
So, your identification of causation with the end of the gold standard it's not at all clear.
In a way, inflation can be re-distributive because is good for the debtor and bad for the lender.
Maybe, is time to accept that wealth accumulates, money call money, and the leveler are wars and disasters or some kind of political action. In other words, the system is not stable.
- dnautics 7y ago> is good for the debtor and bad for the lender. This is a huge myth propagated by economic planners who have never been poor. Typically, the poor don't have debt at all due to no access to banking services, and when they do have access to debt it's a double digit interest rates on short-term revolving basis. Inflation does not help that situation at all. The idea that the rich have no debt is total nonsense. Most of the wealthy make money off of debt-based instruments. For example, trading on margin, shorting, options calls and puts, forex trading, all depend on low interest rates/expanding money supply to make long-term speculative adventures worthwhile. It is, indeed, low interest loans, over the long term, which are the most helped by inflation.