“Inflation is good for the economy” is the exact same logic as the Broken Window fallacy.
#Bitcoin
Discussion
Yes. It worked for a while. Last 100 years a lot of economy happened. But it's inherently flawed by creating artificial scarcity.
It never “worked.” Productivity gains from technological innovation temporarily allowed it to exist without destroying those who took it up.
Did it really work, though, or did it simply reduce all growth and prosperity, possibly otherwise?
Yeah it’s less accurate to say that “it worked for a while,” than it is to say “the damage wasn’t obvious for a while because there was enough wealth and productivity to confiscate quietly.”
Kind of like how you can have cancer for a really long time before it becomes a problem.
I had to look up broken window fallacy 🤙
Imagine you had some money saved for your child’s education, then someone from the government comes and destroys the windows in your store or home, then when you have to spend that savings to repair your life, foregoing the security of your child’s future, and then the political industry proceeds to tell you that your pain and worry is “GoOD FoR thE eCOnoMY cuZ now more people make windows.”
It’s both patronizing and profoundly shallow, stage one thinking that doesn’t even bother exploring the trade offs.
Yeah, that’s super gross
Hehe economics in one lesson.
"Just the right amount of theft and coercion is necessary for a free and prosperous society"
🤡🌍
Yes.
Tragic. Stupid.
Tragically stupid.
And bloodletting.
It actually is good for their economy because inflation means people will spend more. More spending = more taxes they can mismanage.
A cherry on top: Inflation = people will deposit money into FD to beat it. And they can tax it as capital gains. What a joke.
I don't want to spend to buy unnecessary things.
I don't to use your economic system so that you can take more of my money.
This is the Keynes' economics. Propagandised for the Fiat-systems.