Re:Millionaires call for an emergency tax on billionaires
by AnIdiotOnTheNet on Friday August 13, 2021 @12:32PM
(#28171108)
Most people, at least on this site, seem to have a severe Dunning-Kruger effect going on when it comes to economics. It's like they took Econ 101 and didn't realize it's an intro course with simplified models.
E.g. the free market depends entirely upon the amount of money people have? And nothing to do with supply/demand and the elasticity of the market? In a more nuanced view demand creates supply, efficiencies of scale reduce cost, and everything is cheaper.
Folks love to throw out the "More money means prices go up!" as if it's a truism.