Stories
Slash Boxes
Comments

SoylentNews is people

posted by FatPhil on Tuesday August 22 2017, @01:23PM   Printer-friendly
from the Philosophers-Stone dept.

"Although today high levels of inequality in the United States remain a pressing concern for a large swath of the population, monetary policy and credit expansion are rarely mentioned as a likely source of rising wealth and income inequality. [...]

The rise in income inequality over the past 30 years has to a significant extent been the product of monetary policies fueling a series of asset price bubbles. Whenever the market booms, the share of income going to those at the very top increases.[...]

[F]inancial institutions benefit disproportionately from money creation, since they can purchase more goods, services, and assets for still relatively low prices. This conclusion is backed by numerous empirical illustrations. For instance, the financial sector contributed massively to the growth of billionaire's wealth"

Source: https://mises.org/library/how-central-banking-increased-inequality

I'll leave my comments as comments, but note that The Mises Institute is proudly, one might say almost by definition, Austrian School. Both the Institute and the School have had their fair share of criticism. Which of course doesn't mean that individual author is wrong on this particular matter. -- Ed.(FP)


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 2) by FatPhil on Wednesday August 23 2017, @08:45AM

    by FatPhil (863) <pc-soylentNO@SPAMasdf.fi> on Wednesday August 23 2017, @08:45AM (#557901) Homepage
    You think his neighbours will give him sake if he takes a shower?
    Wasn't the beer already too much for him, don't you care about his liver?
    --
    Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
    Starting Score:    1  point
    Karma-Bonus Modifier   +1  

    Total Score:   2