| Your original post put the blame for inequality on government intervention via money printing. Govt Inflation -> Inequality. If only we still had the gold standard then they couldn't cause inequality! This theory however is contradicted by a bunch of historical data. There was massive inequality on the gold standard pre-WW1. The New Deal was a huge govt intervention which reduced inequality. My explanation is that the problem is not government interference in 'free' markets but inequality in power. Economic power via monopolies & weak labour bargaining position AND political power via lobbying, strong parties, gerrymandering. This power inequality is then leveraged by the powerful to create wealth inequality. The exact mechanisms by which they corrupt the systems to capture that wealth be it inflation or deflation or government handouts or M&A regulations or even slavery doesn't matter. If the systems are controlled by this massive inequality in power then it will find a way to corrupt the rules in powers favour. So arguing for any particular economic policy is less important than reforming the voting systems, the tax system, the lobbying system and ownership of the media. |