The Problem with Jeff Booth's Deflationary Thesis (The Price of Tomorrow)
npub1924xzcxh5hal80afljr7sl7qsr6572y95e3qw0ejdstatsx7ma7sqj4f6r
Hubertus Hofkirchner and I explore the limits of a purely deflationary Bitcoin standard, why falling prices don’t always mean progress, and the critical difference between price deflation and monetary deflation. Hubertus explains the historic consequences of inelastic money, the role of credit in industrial economies, and why even sound money needs a flexible layer to keep trade alive.