Replying to Avatar Bender

Devils advocate here.

Could it be also said that if it wasn’t for inflation and the government’s shenanigans with monetary policy then we wouldn’t have been able to advance society so quickly over the past 100 years.
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Guy Swann 1y ago

No, inflation doens't advance society unless you think that stealing from people who value their earnings and giving it to people who cannot value it because they didn't earn it is somehow a productive act.

It would be the same as describing a "vibrant" cancer in a growing organism as responsible for that organism's growth.

There is no way to make counterfeiting a positive thing, it cannot and does not do anything good for anyone except the counterfeiter. the only way to assume it does, requires the keynesian fallacy that inflation "boosts economic activity" to be accepted as fundamentally true, when in actuality (with respect, this is not directed at you) it's fucking retarded.

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Brian 1y ago

It doesn't only give it to people who cannot value it because they didn't earn it. It also gives it to anyone that can borrow a large amount. Obviously governments benefit the most by far but so do companies like Amazon, Google, Apple, etc. Which is terrible because it changes their incentives to become the biggest borrower over being the best at what you think they do.

da
Rand 1y ago

MSTR

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Des Imoto マキシ 1y ago

💯agree. Do you really think we‘d still be flying around in 1940s technology if it weren’t for subsidizing and bailing out companies like Boeing with trillions of printed money? If, like under a #Bitcoin standard, there were consequences for bad investments, those trillions would have been invested in those innovations with the highest rate of return. Perhaps we’d be flying around in individual drones? Instead of being stuck in traffic. Scarcity leads to abundance and innovation. Because their are consequences for bad decisions and corruption.