Anonymous
Anonymous asked in Social ScienceEconomics · 9 months ago

Would a sudden huge deflation result in millions of people becoming instantly wealthy?

1 Answer

Relevance
  • Oiy
    Lv 6
    9 months ago

    The decline in price during deflation means the asset price will decline too. Millions of rich people will become poorer. But the middle-classes which earn their living from a steady income like a government official or contract workforce will get richer.

Still have questions? Get answers by asking now.