New printed money preferentially attaches to existing money 🤔
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Dunno why it took me so long to see this
Money is mimetic
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Not what I’m talking about
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I didn’t mean literally printed, I meant fiscal interventions tend to be distributed to reinforce existing wealth distribution
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Nope. Read the article you linked. Cantillon effect is about path dependence as money enters into circulation. It would apply even if, for instance, a communist revolution used a jubilee and UBI to inject money very differently from current distribution.
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My claim is that new money mirrors old, *whatever* the distribution. It’s a complementary claim that can be true even if the cantillon effect happens to not hold.
