> As everyone includes the rich, it is true that they benefit, but not especially true.
Asst holders benefit disproportionately, as do debtors. The people who benefit most have both assets and debt. These are wealthy people.
> The alternative is not “employment at the same wages” when demand drops, it's “production cuts and unemployment, resulting in larger second order demand drop, resulting in more production cuts and unemployment, etc.”
So by tricking people into taking less compensation for the same amount of work, we benefit how? If demand decreases then production should decrease, because less production is indicated.
> That this is generally worse for everyone including the working class, both as a whole and even many of the workers in the sector seeing the initial demand drop should be pretty easy to see.
No, I’m seeing the opposite. When the automobile replaced the horse-and-buggy, demand for buggy whips decreased as it should have. printing money so that the buggy whip makers didn’t notice that there was less demand for their product would have been a disservice
Asst holders benefit disproportionately, as do debtors. The people who benefit most have both assets and debt. These are wealthy people.
> The alternative is not “employment at the same wages” when demand drops, it's “production cuts and unemployment, resulting in larger second order demand drop, resulting in more production cuts and unemployment, etc.”
So by tricking people into taking less compensation for the same amount of work, we benefit how? If demand decreases then production should decrease, because less production is indicated.
> That this is generally worse for everyone including the working class, both as a whole and even many of the workers in the sector seeing the initial demand drop should be pretty easy to see.
No, I’m seeing the opposite. When the automobile replaced the horse-and-buggy, demand for buggy whips decreased as it should have. printing money so that the buggy whip makers didn’t notice that there was less demand for their product would have been a disservice