The Problem with Jeff Booth's Deflationary Thesis (The Price of Tomorrow)
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Discussion
I don't get it -- if there was a shortage of money, wouldn't prices and wages go down until they were in equilibrium with the money supply?
...for example, if the money supply halved, wouldn't both wages and prices also eventually halve and thus the same amount of work would still buy the same amount of goods and services?
Have a look at some of Hubertus content on YT
He explains it well
Still confused. The money is so expensive that we can’t afford it anymore / so there is not enough of it / so that’s why we can’t keep up with the progress / and the cows are standing without getting milked? There doesn’t seem to be a logical connection just proximity of analogies.
Have a watch of this
Would like to hear the actual argument. It’s cut off here. Maybe something like: when people have nothing to pay, producers are forced to lower prices?
Check out the full ep and the discussion is all there
I also recommend looking at Hubertus yt content as well
When money was too expensive why did the farmer let his crops die instead of lowering prices?