We’ve moved the Substack, to re-subscribe for free please visit ProfStonge Weekly. See you there! The rich are getting richer, the poor are getting poorer, and it’s all thanks to the Federal Reserve. Last week the Fed released a new study that wealth of the top 1% in America hit an all time high of $45 trillion. That's up $15 trillion, or 50% from 2020.
Thanks for explaining the Cantillon effect in an easy to understand way.