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> wealth inequality has gotten so out of hand that people are forced to buy the cheaper products. Other people having more money does not result in higher pric
by WalterBright 9mo ago
> wealth inequality has gotten so out of hand that people are forced to buy the cheaper products.
Other people having more money does not result in higher prices for the rest, i.e. it does not cause inflation.
For example, when I was a boy steak was a rare luxury. Today, a steak dinner costs less than a TV dinner or a bag of Doritos.
- auggierose 9mo agoThat can't be a very good steak.
- WalterBright 9mo agoYou're right, it's not a top cut. Still far better than a TV dinner.
- account42 9mo agoYou don't think what other market participants can afford to pay matters when you are competing for the same finite source of labour?