4 ms·
I'm skeptical of that claim since the rich hold more assets than dollars. To the extent inflation hurts the economy then your claim is true but that is a second
by merely-unlikely 4y ago
I'm skeptical of that claim since the rich hold more assets than dollars. To the extent inflation hurts the economy then your claim is true but that is a second order affect. All else equal, inflation can simply lead to asset inflation in which case the rich maintain their wealth.
In economics circles inflation is generally considered a tax on the poor who only hold cash and whose wages are slower to rise vs price inflation.
- WalterBright 4y ago> I'm skeptical of that claim since the rich hold more assets than dollars You should be. I doubt the rich hold any dollars at all. They invest it all. There aren't any Scrooge McDuck cash vaults. (Criminals often do hold lots of cash, and they try to get rid of it by laundering it.)