Inflation tends to harm people with less economic power much more than people with more options and more economic power. So long story short, there's just a lot of heterogeneity in the way that inflation will impact different people in the economy. And some people will be really, really, really hurt in a way that other people will not be.
Devon Zuegel talks with EconTalk host Russ Roberts about the crazy world of money and finance in Argentina. When inflation is often high and unpredictable, people look for unusual ways to hold their savings. And when banks are unreliable because of public policy, people look for unusual ways to keep their savings safe and to make financial transactions. Welcome to Argentina, where Zuegel finds surprising applications of cryptocurrency for solving problems.