There are two kinds of inequality. One develops as societies innovate and become more productive. The other kind results from government corruption and intervention.
A rising price of gold and silver in US dollars, euros, Chinese renminbi, Japanese yen, etc. means this: the higher the price of this precious metal, the lower the exchange value of official currencies.
China’s “new infrastructure” will likely be but one more example of the false promise of technology as an antidote to the irrationality of state-controlled economies.
Mises knew: “Mass unemployment destroys the moral foundations of the social order. The young people…forced to remain idle, are the ferment out of which the most radical political movements are formed."
The EU has now become essentially a makeshift, lawless regime designed to prop up bankrupt states. So much so, in fact, that even the German supreme court has become alarmed.
