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Joined 3 years ago
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Cake day: June 21st, 2023

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  • The 2% inflation (together with property taxes) also forces the wealthy to keep their assets producing wealth for people other than themselves.

    If they could just hoard money for generations without it deflating to worthlessness, then the level of investment and jobs would be dramatically less.

    This is how the landed gentry of medieval Europe could keep all the land tied up for hunting while not having to give a shit that the serfs were starving.

    Currently you have to keep your assets earning to pay for themselves which generally leads to employment and broad increases in living standards.