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I would argue that if the global economy operated on a fixed-supply currency, there would be no aristocracy. Those with the largest stash of currency would have

• betterunix 13y ago
  "I would argue that if the global economy operated on a fixed-supply currency, there would be no aristocracy. Those with the largest stash of currency would have to spend some of their wealth in order to realize its benefits. This spending would naturally result on a more even distribution of wealth." You are assuming that the richest people in the market would not have any income at all. I think that assumption is pretty dubious. Sure, they will spend some money; but all they would need to do is balance their budget, and they would remain rich perpetually since the currency has a fixed supply. In fact, if their income was larger than their spending, they would actually become wealthier over time, as they removed more and more money from the market and took advantage of deflationary effects.