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How to fix the economy (lemmy.world)

submitted 3 days ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works

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[–] Floey@lemm.ee 76 points 3 days ago (2 children)

Printing more money and using it for public works or giving it directly to the poor could be a valid form of wealth redistribution that doesn't require collecting taxes. The problem of course is capital, it's immune to this kind of inflation, though rich people who have their wealth in debt would be hurt.

[–] hemko@lemmy.dbzer0.com 13 points 2 days ago (2 children)

though rich people who have their wealth in debt would be hurt

Aren't the big loans interest rates tied to inflation though?

[–] Banana@sh.itjust.works 18 points 2 days ago

Directly. Yes.

[–] explodicle@sh.itjust.works 3 points 2 days ago

They are, but the rate you're offered in the first place includes the loss to inflation. Capitalists aren't going to offer a losing deal.

[–] stebo02@lemmy.dbzer0.com 2 points 2 days ago (1 children)

I don't understand. What part of capital is exactly the problem?

[–] Floey@lemm.ee 6 points 2 days ago (1 children)

My point was that the wealthiest people have most of their wealth in assets that are protected from inflation.

[–] stebo02@lemmy.dbzer0.com 2 points 2 days ago* (last edited 2 days ago)

ahh right, maybe we should start trading in gold bars again