This was a great article! I have heart about most of the modern adjustments to the COI but I have not read a history that went back to the beginning.
I would nit pick one item. I think the example of the cost of a house is over simplified. Land is a scarce resource so as the population increases I would expect the price to rise even against stable money.
Ok. not being able to edit spelling on Nostr is going to me rough for me.
s/heart/heard/
s/COI/CPI/
Thank you and I Appreciate the criticism but although land is scarce there is a surplus of land in comparison to demand.
In regards to housing, the supply of houses continues to increase which should allow the cost of the houses to decrease with a hard, inflation resistant money
ok fair enough. I over simplified it as well by only taking the meaning of “a house on some land”. If taken to mean housing in any form(more reasonable in an economic context) land scarcity can be discounted by tech making it easier to build up.
Still I am not so sure it’s as easy as saying there is a surplus of land. Land is the ultimate non-fungible item. It all depends on where the demand is and where to supply is.
Of course, which is why beach front property increased in value far more than property in less desirable/ countryside locations.
So on a hard money standard the beach front property May decrease in value at a lesser rate than other land.
No way to tell for sure unless we worked it out and the free market priced it
