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The Illusion of Wealth

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BUBBLE ECONOMICS
"Inflation...lowers the general standard of living. In the very course of creating a tinsel atmosphere of prosperity, people have to work harder. They have to have two-income families just to keep up. We all think we're doing better: we're buying more stuff, and we're buying bigger houses to put our stuff in. But we're really getting less prosperous, and that's what inflation does during a boom." Hence, the circa 1999 saying, "prosperity never felt so poor."
SOURCE:   Mises.org

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