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Inflation affects the poor more than the wealthy. Food, energy, shelter all become less attainable for the poor. They will always be attainable for the rich.
by laputan_machine 4y ago
Inflation affects the poor more than the wealthy.
Food, energy, shelter all become less attainable for the poor. They will always be attainable for the rich.
In absolute terms the rich will "lose" more money, or not gain as much, but this isn't the concern.
The concern is the inevitable increase of absolute poverty that will happen, and that is because the poor will be worse affected.
Rich people aren't going to struggle to pay their gas bill, or struggle to buy food.
- TimTheTinker 4y agoAny change at all from the ideal will disproportionately negatively affect the poor, marginalized, disadvantaged, etc. This is true in any sphere of life, not just economics. That's why "love your neighbor as yourself" is indispensable. No policy or variable tweaking can take the place of simply caring for others.