>Prices would rise and rise until they matched the new million-fold buying power Prices would rise, yes. But they would not rise proportionally to the increas

>Prices would rise and rise until they matched the new million-fold buying power Prices would rise, yes. But they would not rise proportionally to the increase in purchasing power. At the extreme case, imagine a person with $0. If they are given $1 million, they are now ∞% wealthier. If the cost of food rises 1,000,000%, they can still afford more food then before. But prices won't rise that much. Your 50¢ pretzel might cost $1,000 now. But that won't last: if you can get an extra $1 million by selling 1,000 pretzels, people will do that. In the medium term, the supply of pretzels will increase and maybe the price will drop to $100. I am not implying that wealth distribution solves scarcity. But it does redistribute power and resources, so that everyone's desires and needs are more equally catered to.