Part 6/9:
Richard Cantillon, an 18th-century French economist, introduced the concept now known as the Calone effect, which illustrates how money printing does not benefit everyone equally. When new money floods into an economy, it is primarily the government and asset holders who reap the benefits, while the average citizen's condition could worsen.
As asset prices soar, the wealth gap widens. Individuals who have investments in property, stocks, or other financial instruments gain disproportionately, increasing their wealth and exacerbating inequality. Those on fixed incomes or dependent on wages for a living end up struggling with higher living costs without a corresponding increase in wealth.