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If you lived in a deflationary regime, what incentive would you have to work? You'd rather just sit on your wealth and do nothing. There would be no economic ou
by karthikvellanki 9y ago
If you lived in a deflationary regime, what incentive would you have to work? You'd rather just sit on your wealth and do nothing. There would be no economic output.
- AboutTheWhisles 9y agoYou do realize that the current monetary system has only really been in place for about 45 years right? The world ran on gold for hundreds of years and somehow people still managed to find the motivation to work without someone printing off the money they use. (Also most inflation pragmatically comes in the form of fractional reserve banking)