Here’s a thought experiment …
We know that technology development is deflationary.
Inflationary policies can accelerate tech development, e.g. NASA etc.
What’s the net balance?
Is purchasing power delivered via stimmy-funded tech, and that offsets some of the debasement?
What are the effects in/between verticals?
The foundation of majority of the stimmy-funded tech development was incentivized by war. Thus “justifying” a fiat system in 1971. With a hard money standard the incentive (I believe) is to optimize for the best solution possible in the development of tech. This optimization is not merely based in profits but rather in the supply chain and sustainability of the tech, hence creating a whole new economy that incentivizes development tech to be distributed to the masses for free. Stimulating Creating value with further tech. This all can only be accomplished if basing all value in a hard commodity like Bitcoin is the only solution imo.
Interesting, I'd like to simplify the problem by going back to ancient times, at how civilizations funded their armies. Cool line of reasoning.
See my premise is that if we were in a pure Bitcoin standard we would be incentivized to maintain peace because trade is crossing between individuals. You can’t trade during war time or at least that’s minimized.
i think technology development is not equal to deflationary,it's the reason of deflationary ,just as industrial upgrading not fit with technology development,so we need print more money to accelerate industrial upgrading ,otherwise the new money would throw in capital market,inflationary is not far
