Season 1 · Episode 348
Rate rises and inequality
Nobody wins when interest rates go up, but the poor suffer the most. So, is there a better way than hammering everyone with the same blunt instrument?
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
April 26, 202336m 3s
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Show Notes
Nobody wins when rates rise. Central banks might argue that everybody wins, because they are using these rises as the blunt instrument to knock down inflation. But the wealthy lose out because asset prices take a hammering, and the working poor become of the unworking even-poorer as the economic slowdown leads to rising unemployment. But it’s clear those on lower incomes suffer the most. This week Phil asks Steve if there’s a way for central banks to reduce the inequality as they seek to tame inflation?
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