3 ms·
New money does not reach all people at the same time. Those who get it first benefit more. This is known as the Cantillon Effect. https://fee.org/articles/the-c
by wskinner 5y ago
New money does not reach all people at the same time. Those who get it first benefit more. This is known as the Cantillon Effect. https://fee.org/articles/the-cantillon-effect-because-of-inflation-we-re-financing-the-financiers/ https://fee.org/articles/the-cantillon-effect-because-of-inf...
- donmcronald 5y agoYep. Basically whoever gets the free money first get to buy / invest before anyone else even realizes the money supply has been diluted. The way money is printed and given directly to the rich via the financial industry needs to stop. If the money supply needs to be increased every year it should be done by giving it directly to the masses via UBI or similar. I'm starting to have the opinion we've been getting scammed with hidden inflation since the 80s.
- coliveira 5y agoWell, the system we now have was designed by the same people who are now becoming super millionaires and billionaires. How should it be different?
- donmcronald 5y ago50 years of trickle up economics would be a good start IMO.