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Unfortunately I can't read the article because it requires a subscription. The conclusion is surprising to me though - poor people generally spend what they ge
by kybernetikos 5y ago
Unfortunately I can't read the article because it requires a subscription.
The conclusion is surprising to me though - poor people generally spend what they get paid on what they need. I would have assumed that this means that if their pay is increasing at the same rate as their costs, inflation isn't hurting them much at all.
If their pay isn't increasing at the same rate as their costs, I'd consider that a phenomenon different to inflation, and blame that.
On the other hand, it seems like inflation would hurt people with large quantities of uninvested cash the most.
- CheezeIt 5y agoYep. And even when the cash is invested, it forms a wealth tax whose value is inflation rate multiplied by capital gains tax rate.
- TrinaryWorksToo 5y agoMinuum wage isn't going up. It's a huge problem.
- kybernetikos 5y agoAnalysis that suggests that actually debt getting inflated away is a major factor and results in people in debt being disproportionately helped by inflation: https://www.lynalden.com/inflation/#benefit https://www.lynalden.com/inflation/#benefit