arcticorangutan on Nostr: I think there is no doubt the current theft level of inflation is very detrimental. ...
I think there is no doubt the current theft level of inflation is very detrimental.
However, if I wanted to steelman the argument for low levels of inflation being healthy I would say that it may not be beneficial for an economy if a large group of people can just live off their savings forever (as prices continuously to decrease). Especially as we talk about the next few generations who inherit that wealth you start to wonder whether that’s really the system that will get ultimate consensus.
Not sure what but curious what the best Austrian School Argument against this is
However, if I wanted to steelman the argument for low levels of inflation being healthy I would say that it may not be beneficial for an economy if a large group of people can just live off their savings forever (as prices continuously to decrease). Especially as we talk about the next few generations who inherit that wealth you start to wonder whether that’s really the system that will get ultimate consensus.
Not sure what but curious what the best Austrian School Argument against this is
quoting nevent1q…fcvzI have mixed feelings about inflation. It does not seem necessarily bad, but at the very least, it is unnecessary - it does not solve much.
If money creation is fairly distributed and productivity grows, inflation would not be harmful. But fiat inflation is never fair. It is a hidden wealth transfer.
If we produce more, what's wrong if money simply retain its value? 🤷♂️