Why are some people rich first and others later? Cantillon provided the answer as early as the 18th century.

He observed a phenomenon: when new money enters the economy, it is not distributed evenly. Those who receive the money first can buy assets at old prices, while later entrants can only buy at higher prices.

Taking the Federal Reserve as an example. Every time liquidity is released, the money first flows to financial institutions and the banking system, which use it to buy stocks and bonds. When ordinary people receive the money, prices have already risen, and their purchasing power has long been diluted. This is the "Cantillon Effect" — monetary policy unintentionally exacerbates wealth inequality.