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Money is a commodity, but you don't want it to behave like one. That's where fiat currency comes in. Inflation, or at least the threat of it, prevents hoarding
by IanDrake 7y ago
Money is a commodity, but you don't want it to behave like one. That's where fiat currency comes in.
Inflation, or at least the threat of it, prevents hoarding. It has a realistic and useful effect on value in that it makes money decay over time.