I failed Econ in HS, don't look at me!

Um...*thinks* Think of it like cutting back, sure you can magically summon food but since there's a "unknown" spell hanging over everyone, the food conjured would usually be crap food like old bread or raw chicken, etc. As far as not having a lot of money or it just losing face value, the rich wouldn't have much of a place above everyone else, kind of making everyone slowly sink into poverty and shit situations you know?