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A comment on How Did Sam Bankman-Fried Get Bail?. Parent comment

Re:How Did Sam Bankman-Fried Get Bail? by djrobstep on Sunday December 25, 2022 @08:03PM (#34133385)
No it doesn’t. The Nordics don’t suffer from hyperinflation, in spite of their much larger welfare states.

Redistribution increases demand in the short term, but in the longer term production shifts accordingly to match. Which really is the whole point: Changing the economy to produce more of what ordinary people need.

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Re:How Did Sam Bankman-Fried Get Bail? by josephcsible on Sunday December 25, 2022 @08:07PM (#34133407)
> in the longer term production shifts accordingly to match

Isn't the long-run aggregate supply curve basically completely price inelastic?

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Re:How Did Sam Bankman-Fried Get Bail? by djrobstep on Sunday December 25, 2022 @08:27PM (#34133532)
I’m saying that production shifts to produce more of what poor people want (food etc) and less of what that rich people want (Lamborghinis etc).
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