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"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)
(Score: 2) by The Mighty Buzzard on Wednesday August 23 2017, @12:24PM
I fail to see any of that as a problem. Someone having a pile of money big enough to paper the walls of their mansion has no effect on me. Money and wealth are not remotely finite.
Political power? It's still one man, one vote (or one corpse, one vote if you're a Democrat). You really want change, stop voting for the ones that you know will sell you out. I did.
My rights don't end where your fear begins.