Another driver of inflation that gets less attention is the ever-widening wealth inequality gap. In our profit-driven capitalist system, producers seek to maximize profit, so of course, they will shift production toward the people and markets who have most of the money. That means fewer goods and services for those at the middle and the …
Another driver of inflation that gets less attention is the ever-widening wealth inequality gap. In our profit-driven capitalist system, producers seek to maximize profit, so of course, they will shift production toward the people and markets who have most of the money. That means fewer goods and services for those at the middle and the bottom — and therefore higher prices for what remains available.
In this regard, it seems a progressive tax on wealth would go a long way toward controlling inflation.
Another driver of inflation that gets less attention is the ever-widening wealth inequality gap. In our profit-driven capitalist system, producers seek to maximize profit, so of course, they will shift production toward the people and markets who have most of the money. That means fewer goods and services for those at the middle and the bottom — and therefore higher prices for what remains available.
In this regard, it seems a progressive tax on wealth would go a long way toward controlling inflation.