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A comment on Ask HN: Lost Economic Theories: Printing Inflation-Free Money?. Parent comment

Re:Ask HN: Lost Economic Theories: Printing Inflation-Free M... by imtringued on Thursday November 05, 2020 @04:43PM (#25002343)
It's actually the opposite. Consumer inflation is bad for the wealthy. It means wages are catching up and making the amassed wealth less valuable. If Bill gates is worth 100 billion and you go from 20k to 40k yearly wages then the purchasing power of his wealth has halved.

The only way his wealth can keep up with inflation is by employing workers which means he has to pay the increased wages. So he ends up worse off than if we had deflation and he could just sit on money.

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Re:Ask HN: Lost Economic Theories: Printing Inflation-Free M... by dnautics on Thursday November 05, 2020 @05:12PM (#25002637)
That's very naive. Do you think bill gates net worth is tied up in dollars? By contrast. If you go to bayview hunters point and look around the houses, what do you think the net worth of any given person around you is going to look like?

Also, inflation is explicitly a policy designed for wages NOT to keep up. I don't know where you got the idea otherwise.

https://krugman.blogs.nytimes.com/2010/02/13/the-case-for-hi...

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