Positive Interest Rates Make Us Poorer
The flaw in the system
Where I live in Austria, a pound of organic potatoes costs around one dollar. An hour with a business lawyer costs up to 500 dollars. Imagine an organic farmer driving his tractor and a trailer with a quarter of a ton of organic potatoes to his business lawyer. He dumps the potato in the garden for an hour’s conversation with him. That’s crazy!
Maybe you want to argue that the lawyer had to invest in his education. But that cannot justify this extreme disproportionality. The organic farmer also had to invest. He had to learn how to manage the farm; perhaps he had to buy land or machinery … not to mention the many hours he has to work, which usually far exceed the workload of a lawyer. Another example: one hour with a car mechanic costs around 100 dollars — or 100 pounds of potatoes.
The system is completely out of kilter. I explain why below.
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The FULL story is in my Substack newsletter: https://open.substack.com/pub/bernhardexplores/p/positive-interest-rates-make-us-poorer?r=3oqs68&utm_campaign=post&utm_medium=web
German version: https://open.substack.com/pub/bernharderforscht/p/positive-zinsen-machen-uns-armer?r=3oqs68&utm_campaign=post&utm_medium=web
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