Dr. Hax on Nostr: If we didn't have inflation, when someome got an idea for a cool new thing, they ...
If we didn't have inflation, when someome got an idea for a cool new thing, they wouldn't be able to build it because there's literally no money left to go around. Every unit of money is already allocated to something.
If someone were to invest their savings (which it's questionable ifnsavings would even exist in the same way we think of it now simce there's not enough money to go around, but just putting that aside for a moment...), there couldn't be any return on investment because there's no additional money.
In terms of buting power, people are poorer in a deflationary economy.
These are the argument I heard earlier tonight. Can someone point me to succinct counterarguments? Importantly, something that doesn't require studying economics for years, but something I could just casually mention in a pub in 60 seconds and get the point across to a normal person. Ideally 160 characters or less! 🔥
If someone were to invest their savings (which it's questionable ifnsavings would even exist in the same way we think of it now simce there's not enough money to go around, but just putting that aside for a moment...), there couldn't be any return on investment because there's no additional money.
In terms of buting power, people are poorer in a deflationary economy.
These are the argument I heard earlier tonight. Can someone point me to succinct counterarguments? Importantly, something that doesn't require studying economics for years, but something I could just casually mention in a pub in 60 seconds and get the point across to a normal person. Ideally 160 characters or less! 🔥