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Indeed. I would be very surprised if actual wealth didn't significantly decrease.
Indeed. I would be very surprised if actual wealth didn't significantly decrease.
I like to explain it to people this way: the economy works just like grading on a curve. Adding 10 points to everyone's grade changes nothing. Adding 10 points to the grades of only the bottom half still doesn't really change anything.
The problem is that people don't understand that the economy works like grading on a curve, not on an absolute scale.
I like to explain it to people this way: the economy works just like grading on a curve. Adding 10 points to everyone's grade changes nothing. Adding 10 points to the grades of only the bottom half still doesn't really change anything.
The problem is that people don't understand that the economy works like grading on a curve, not on an absolute scale.
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