But who wouldn’t prefer modest inflation and a bit of asset erosion to mass unemployment? Well, you know who: the 0.1 percent, who receive “only” 4 percent of wages but account for more than 20 percent of total wealth. Modestly higher inflation, say 4 percent, would be good for the vast majority of people, but it would be bad for the superelite. And guess who gets to define conventional wisdom? nytimes/2014/04/07/opinion/krugman-oligarchs-and-money.html?smid=fb-share
Posted on: Mon, 07 Apr 2014 15:45:19 +0000
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