The Theory of the Bottom 99%
On the latest episode of Minor Issues, Mark Thornton tackles the “Austrians don’t care about the poor” smear, arguing that Austrian monetary theory is designed to explain how political elites rig the system against working people. From Cantillon’s original gold mine thought experiment to today’s Fed-driven credit expansion, Mark explains how cheap money concentrates wealth and fuels the “K-shaped” economy, while a market-based monetary system would sharply limit this dynamic and restore more durable wage growth and stability.
Additional Resources
"Share of Net Worth Held by the Top 1%"…
The skinny
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