Wonder what Harvard economist came up with that bit of truth.
Wonder what Harvard economist came up with that bit of truth.
It falls back to the old analogy that a rich man buys an expensive pair of boots that lasts 10 years, while a poor man buys the cheapest boots he can afford that wear out fast and after 10 years he has spent more on boots than the rich man. Inflation just makes it more expensive for the poor.
It falls back to the old analogy that a rich man buys an expensive pair of boots that lasts 10 years, while a poor man buys the cheapest boots he can afford that wear out fast and after 10 years he has spent more on boots than the rich man. Inflation just makes it more expensive for the poor.
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