i tried to say that there is no current theory
Posted on: April 14, 2012 at 15:32:37 CT
that describes inflation in terms of income and wealth inequality. but my thought is there eventually will be and should be. because a consistently declining standard of living is not properly measured by various aggregations of prices. its true meaning is measured in terms of wealth and income disparity and how that is impacted by cheap money.
minimization of wealth and income disparity is the ultimate arbiter of an appropriate economic program long term. and i do not think today's dem-leb econ philosophies lend themselves to a constructive outcome in that category.
Edited by kbit at 15:38:15 on 04/14/12