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If the pie were to become bigger, wouldn't the shack in Nigeria also cost more?
by flak48 7y ago
If the pie were to become bigger, wouldn't the shack in Nigeria also cost more?
- onlyrealcuzzo 7y agoA shack in Nigeria would cost more if there was more demand and the same supply for shacks in Nigeria. Or it would cost more if the value of money decreased. My idea of a bigger pie, is not debasing the value of our currency. I think you're assuming that if we "made more money" Venezuela-style that the value of money would be less / things would be more expensive. I'm not saying we should "make more money". I'm saying we should "make progress". Progress is REAL growth. We measure GDP growth in REAL terms. An inflated pie would not be a bigger pie. A pie that's bigger in REAL terms would be a bigger pie.