Billionaires are necessary because they take money out of circulation, providing some deflationary pressure to the monetary system. If we were to distribute all their wealth, we’d have such high inflation that the entire economy would collapse.

  • A Reddit brained economics teacher
  • GreatSquare@lemmygrad.ml
    14·
    13 days ago

    If we were to distribute all their wealth, we’d have such high inflation that the entire economy would collapse.

    Holy shit! 🤣

    I thought based off your description your class would be learning MICRO economics. Misplaced optimism on my part.

    Inequality going parabolic is a feature now apparently. Your teacher must be loving the current economic situation then. OR do they think the billionaires aren’t hoarding enough?