New printed money preferentially attaches to existing money 🤔
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Sigh, no. Cantillon effect says how money is distributed matters. I’m saying something orthogonal, that fiscal measures tend to be deployed in proportion to existing wealth distribution. A sort of minimal disruption effect rather than a path dependence effect.
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Yup. There’s a reason wealth follows a power law distribution. The people who have money are the best positioned to get more of it
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