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It blows my mind to see people saying that people starving and barely getting by is great for the economy. But I guess it is because it creates a system where p
by hanniabu 4y ago
It blows my mind to see people saying that people starving and barely getting by is great for the economy. But I guess it is because it creates a system where people are desperate for income and that leaves them vulnerable for abuse. Hence norm of today's wage slave culture.
- imtringued 4y agoIt's not great for the economy, it is great for the rich and that includes the American middle class.
- karamanolev 4y agoWho is saying that and in what way? That comment is simply saying that if things aren't being produced, they cannot, by definition, be consumed. So also by definition, with the same (or larger, due to QE) amount of money, less things need to be consumed, hence higher prices / inflation.
- parkingrift 4y agoPrice of goods is set by what the market will bear. If demand is higher than supply, prices will rise. This is the situation we have today. Inflation caused by supply chain disruptions and increased demand. The only way that prices will fall is if demand wanes, or supply increases. No one said people starving is great for the economy. It’s a statement of fact that inflation will not abate unless demand falls or supply increases. It’s pretty hard to increase supply right now.