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LufyCZ ,

Do workers simply will iron ore into existence

In terms of costs, yeah, that’s exactly what they do. Someone’s getting money for it, be it the land owner, the workers, the company providing the tech for it. Doesn’t matter, there’s always a person at the end of the cost pipeline.

workers pockets X owner’s profit

In terms of inflation, this just doesn’t help. Workers spend almost everything they get (living paycheck to paycheck), rich people do still spend the money (which means the money ends up in someone elses pocket) and yes, they will spend more than the average worker, but they also invest a big chunk, usually locking up the money, and at least temporarily taking it out of circulation.

Which reduces inflation, that’s the point of high interest rates :)

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