Part 8/9:
The relationship between BlackRock and inflation exemplifies how certain institutional players may gain from macroeconomic manipulation. In the wake of decisions carried out in 2008 and the COVID-19 pandemic, BlackRock stood to gain immense profits while everyday Americans grappled with soaring costs.
Conclusion: The Future of American Economics
The story of inflation and economic disparity in America is around the transformation brought on by the abandonment of the gold standard in 1971, leading to a cascading effect on asset inflation and wealth concentration. While there have been notable increases in wages for some, these gains have often been overshadowed by rising living costs triggered by the very system that was intended to stabilize the economy.